Negotiations on the Joint Declaration Proposal for the Domestic Regulation of Trade in Services of the World Trade Organization have been successfully completed

On December 2, 67 WTO members, including China, the European Union, and the United States, initiated a joint statement on domestic regulation of trade in services to convene a head-level meeting of the participating parties’ delegations to the WTO. WTO Director-General Ivira attended the meeting.

The declaration formally announced the successful completion of the negotiation on the Joint Declaration on Domestic Regulation of Trade in Services, stating that the results of the relevant negotiations will be incorporated into the existing multilateral commitments of all parties. The participating parties will complete the relevant approval procedures within 12 months from the date of the declaration, and submit a specific commitment reduction form for confirmation. All participants spoke highly of the significance of the successful completion of negotiations on domestic regulation of trade in services, and agreed that the successful completion of negotiations on this topic is an important milestone in the restoration of the WTO’s negotiating functions and will help promote further liberalization and facilitation of global trade in services.

The Chinese side stated that China insists on promoting high-level opening up, continuously improving domestic regulatory transparency, simplifying administrative procedures, improving the business environment, and continuously stimulating market vitality. Discipline related to domestic regulation of trade in services can help reduce barriers to trade in services and reduce business costs and uncertainties. The Joint Declaration Initiative is a creative negotiation method of the WTO, bringing new vitality to the WTO. The Joint Declaration Initiative on Domestic Regulation of Trade in Services is the first WTO joint declaration initiative to complete negotiations. It should continue to adhere to the principles of openness, tolerance, and non-discrimination, attract more members to join, and realize the early multilateralization of negotiations. China is willing to work with all parties halfway to push the WTO to achieve more results.