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The Ministry of Commerce of China File photo: VCG

China's Commerce Minister Wang Wentao on Thursday met with Saudi Minister of Commerce Majid bin Abdullah Al-Qasabi and G20 Presidency holder, South Africa's Minister of Trade, Industry, and Competition Parks Tau separately through video calls, focusing on strengthening regional and multilateral cooperation, according to statements released by the Ministry of Commerce (MOFCOM) on Friday. 

It represented China's commitment to maintaining multilateralism, which will inject certainty into the world, and to enhancing cooperation to address the turbulence brought by the US' unilateral tariff policies. In addition, under such circumstances, China's firm voice for multilateralism is valuable and in sharp contrast to the US' irresponsible approach, Chinese analysts noted.

According to MOFCOM, during the video call with the Saudi minister, the two sides exchanged views on how to respond to the US' imposition of so-called "reciprocal tariffs," and enhancing the economic and trade cooperation between China and Saudi Arabia as well as between China and the Gulf Cooperation Council. 

The two sides also discussed leveraging the role of the WTO and upholding the multilateral trading system. 

When speaking with Tau, the two sides discussed how to respond to the US' imposition of so-called "reciprocal tariffs," strengthening China-South Africa economic and trade cooperation, and leveraging multilateral platforms including the G20 and BRICS.

According to a statement released by MOFCOM on Thursday, Wang has held a meeting via video link with Tengku Zafrul Abdul Aziz, Malaysia's minister of investment, trade and industry, as Malaysia currently holds the rotating chair of ASEAN. 

During the talk, he expressed China's willingness to strengthen communication and coordination with trading partners, including ASEAN, and to resolve respective concerns through dialogue and consultation based on mutual respect, in a joint effort to safeguard the multilateral trading system.

China also refuted the "robber" logic of US "reciprocal tariffs" on Thursday (local time) at the first annual meeting of the Council for Trade in Goods of the WTO, saying that China attaches great importance to the multilateral trading system, with the WTO at its core, and supports Director-General Ngozi Okonjo-Iweala's call that "the WTO serves as a vital platform for dialogue. Resolving these issues within a cooperative framework is essential," according to a report by China Media Group.

"Under the US tariff stick, China has actively strengthened economic and trade exchanges with other countries to tap into diverse markets and jointly respond to the unilateral approach of the US, sending a signal of China's stability to the world," Wang Peng, an associate research fellow at the Beijing Academy of Social Sciences, told the Global Times on Friday.

Zhou Mi, a senior research fellow at the Chinese Academy of International Trade and Economic Cooperation, told the Global Times on Friday that "China is an important participant in global economic and trade cooperation, so the country's stance of advocating multilateral cooperation will build confidence for all countries."

"Under such circumstances, China's voice for cooperation is valuable, demonstrating the role of a responsible nation, in sharp contrast with the US' irresponsible approach," Wang noted. 

As the US' tariff policy continued to cast a shadow over world trade and commerce, more countries expressed their concern, calling for support for a multilateral trading system.

During a special meeting held via video conference on Thursday, the ASEAN has cautioned that the US' latest unilateral tariff strategy risks global economic stability and disrupts international supply chains. The ASEAN economic ministers also expressed their support for a fair, rules-based multilateral trading system with the WTO as a major pillar, and they advocated for the WTO to be used as a venue for resolving trade disputes, the Xinhua News Agency reported on Friday.

During a virtual address commemorating the 30th anniversary of the WTO, South African President Cyril Ramaphosa also called on Thursday on the international community to strengthen the multilateral trading system that is under threat of unilateral and protectionist measures, according to Xinhua.

Zhou noted that multilateralism is an inevitable trend for future development and needs to be defended by all countries together. 

"All parties should adhere to the existing consensus -- equality and reciprocity, which is totally different from the so-called 'reciprocal tariffs' of the US. The international community should play a more active and proactive role to minimize the uncertainty of the international trade environment, strengthen technological cooperation, and promote the process of globalization to obtain a stronger momentum of innovation," Zhou noted.