Hamburg Summit calls for rule-based global trade

Added On November 30, 2018

Several German and European officials have called for stronger EU-China ties to promote a rule-based global trade system at the Hamburg Summit.
President of the Hamburg Chamber of Commerce, Tobias Bergmann, said China and the EU, as main drivers of the world economy, are both facing uncertainty in the global politics arena.
He called on China to work along with the EU towards rule-based world trade system within the framework of the WTO, to fend off protectionism.
European Commissioner for Competition, Margrethe Vestager, said China and Europe are two of the world's largest economies, accounting for about a third of world's GDP, so it is important that China and Europe stay together.
Vestager stressed that Europe and China have a shared interest in strengthening the rule-based international system for a global level playing field and fair competition.
Peter Tschentscher, First Mayor of Hamburg, said that the China-proposed Belt and Road Initiative has strengthened the links between Asia and Europe, providing potential for multilateral trade.