Fifteen nations have launched a pilot electronic certificate of origin program to speed and simplify cross-border trade.
According to WIPO, one-third of the value of manufactured goods sold globally, or $5.9 trillion, comes from “intangible capital,” the third-largest being textiles and apparel.
The pro-economic globalization remarks by Xi mark a turning point in multilateral diplomacy.
A number of top WTO envoys used the session to voice their apprehensions about growing antitrade sentiment.
The move by the WTO advances a case the U.S. filed against China in July.
The U.S. filed a case against China at the WTO in July charging that it is using unfair trade practices that put U.S. companies at a competitive disadvantage.
During the review session, WTO members commended El Salvador’s robust export performance.