China signs two memorandums at Sixth China Round Table

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China’s Minister of Commerce, Zhong Shan, attended the Sixth China Round Table on World Trade Organization (WTO) Accessions held in Buenos Aires, Argentina on Saturday, and signed a Memorandum of Understanding (MoU) and another cooperation contribution memorandum regarding the WTO’s Trade Facilitation Agreement Facility (TFAF) with WTO Director-General Roberto Azevêdo.

"The program has played a positive and effective role in facilitating LDCs’ integration into the multilateral trading system. Today, we renewed our commitment to the program with expanded forms of cooperation. This once again demonstrates our strong support for the development of LDCs within the South-South cooperation framework.” Zhong said.

Azevêdo commented that China has displayed real leadership in the WTO’s Least-Developed Countries and Accessions Program, also known as the China Program.

Initiated in July 2011 under the WTO’s Aid for Trade initiative, the China Program has helped six LDCs join the organization.

Currently, 21 accessions are in the pipeline in the WTO, with a number of them advancing into the final stages. Last year, two LDCs – Somalia and Timor-Leste – submitted applications for WTO membership and a third LDC – South Sudan – has just submitted a new application for consideration by the Ministerial Conference.

China will offer one million US dollars to the Trade Facilitation Agreement Facility Trust Fund to finance training workshops for government officials from developing countries to help them implement the Trade Facilitation Agreement, which aims to streamline customs procedures, cutting the time and cost involved in moving goods across borders.