China, Russia oppose unilateral restrictive measures on trade, finance

China and Russia firmly oppose unilateral and unlawful restrictive measures such as trade and financial restrictions, said the two sides in Moscow on Thursday.

   They made the declaration in a joint statement on further deepening the China-Russia comprehensive strategic partnership of coordination for a new era that was signed by Chinese President Xi Jinping and Russian President Vladimir Putin on Thursday.

   Both sides pointed out that certain countries and their allies have imposed such measures, significantly increased tariffs, and used other non-market-oriented means of competition, which have had a negative impact on the world economy, undermined fair competition and hindered international cooperation in addressing common challenges facing all mankind, including hindering the maintenance of global food security, energy security and the achievement of the UN Sustainable Development Goals.

   The two countries condemned the shameless acts of bypassing the UN Security Council to implement measures that violate the Charter of the UN and international law, obstruct justice and violate the rules of the World Trade Organization (WTO).

   China and Russia will continue to join hands to deal with the downward pressure on the world economy, and facilitate the participation of more Global South countries in international and regional trade.

   In the statement, the two countries noted the growing risks of global trade fragmentation, discriminatory measures and unlawful trade restrictions.

   Certain countries, under various pretexts, have arbitrarily imposed tariffs on their trading partners, seriously infringing upon the legitimate rights and interests of other countries, gravely violating WTO rules, severely undermining the rules-based multilateral trading system, and profoundly disrupting the stability of the global economic order, said the statement.

   Both sides firmly oppose illegal unilateral bullying and unilateral protectionist measures such as arbitrary imposition of tariffs and abuse of export control, which seriously disrupt the international economic and trade order, and have a profoundly negative impact on global industrial and supply chains.

   China and Russia are willing to actively promote an open, inclusive, transparent and non-discriminatory multilateral trading system with the WTO at its core, support the efforts to keep WTO rules up to date, and promote the liberalization and facilitation of trade and investment.  Enditem

Source: Xinhua