"We are facing multiple challenges and uncertainties," DDG Zhang told the visiting entrepreneurs. "But as our Director-General Dr. Ngozi Okonjo-Iweala has said, 72% of global trade is still going on within the framework of the WTO. That's an important fact which we should not take for granted, it's just math."
During a recent meeting with a delegation from the China President Program, Deputy Director-General (DDG) Xiangchen Zhang emphasized the ongoing relevance of the World Trade Organization (WTO) in international commerce. The group was organized by the Cheung Kong Graduate School of Business in Beijing and the Swiss Board Foundation and included about 30 chairs, presidents, and CEOs from Chinese companies representing industries such as technology, software, renewable energy, pharmaceuticals, construction, real estate, and consumer goods.
DDG Zhang acknowledged that tariffs remain significant in trade policy but stressed that WTO rules also cover areas like intellectual property rights protection, product standards, and other non-tariff matters. He highlighted how business leaders played a key role in advancing WTO’s Information Technology Agreements. These agreements have contributed to removing tariffs on hundreds of high-tech products worth several trillion dollars annually.
"The WTO can survive," he declared. "We are in a difficult time, but communication between us and entrepreneurs is very important. You are our customers, you are the source of ideas."
The visit allowed WTO Secretariat officials to engage directly with Chinese business leaders to discuss priorities and underline why the organization remains relevant for companies operating internationally. During their session at WTO headquarters, Secretariat experts shared insights into topics including intellectual property protection, digital trade developments, technical barriers to trade such as standards and regulations, as well as broader economic trends.
Attendees had opportunities to ask questions and share their views with WTO officials during this exchange.