wto seminar focuses on global impact and challenges of green industrial policies
2024-09-15
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xinhua news agency, geneva, september 13 (reporter chen binjie) during the world trade organization's 2024 public forum, the international monetary fund (imf) held a special seminar on "green industrial policy" in geneva, switzerland on the 13th.
imf experts pointed out at the seminar that addressing climate change has been an important motivation for countries to implement industrial policies in recent years. the imf has strengthened its supervision of industrial policies in its country surveillance and proposed that the formulation of green industrial policies should follow guiding principles, including compliance with wto rules, enhanced transparency and international coordination.
li chenggang, china's permanent representative to the wto, pointed out that the green transformation of the economy cannot be achieved by market forces alone, and the government needs to introduce a series of supporting policies. subsidies are an important part of industrial policy, but over-reliance on subsidies may lead to resource mismatch and fiscal waste. if green industrial policies are implemented in a way that violates wto rules, it will distort international trade and investment, impact the multilateral trading system, and undermine the efforts of developing countries to transform themselves into green ones.
li chenggang shared china's experience in implementing green industrial policies, including setting firm goals and stabilizing expectations, solving market failures, treating all types of market players equally, rationally designing subsidy systems, and ensuring that subsidies comply with wto rules through wto compliance assessments. he emphasized that the development of china's new energy industry is a product of openness, support for free trade, and respect for wto rules.
simon manley, british ambassador to the wto and the united nations office in geneva, said that green industrial policies are necessary, but their implementation is not easy. in order to reduce their negative effects, it is necessary to ensure that relevant policies comply with wto rules.
participants all believed that wto members need to strengthen multilateral dialogue and cooperation on green industrial policy issues to promote cross-border investment in green industries and the cross-border flow of low-carbon technologies and environmental products. in this regard, the investment facilitation agreement for development, the liberalization of trade in environmental products, and the updating of wto subsidy rules are all very important policy tools.
