WTO Candidates Emphasize Experience, Confidence on 2nd Day of Presentations

The headquarters of the World Trade Organization (WTO) are pictured in Geneva, Switzerland, April 12, 2017. REUTERS/Denis Balibouse/File Photo
The headquarters of the World Trade Organization (WTO) are pictured in Geneva, Switzerland, April 12, 2017. REUTERS/Denis Balibouse/File Photo
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WTO Candidates Emphasize Experience, Confidence on 2nd Day of Presentations

The headquarters of the World Trade Organization (WTO) are pictured in Geneva, Switzerland, April 12, 2017. REUTERS/Denis Balibouse/File Photo
The headquarters of the World Trade Organization (WTO) are pictured in Geneva, Switzerland, April 12, 2017. REUTERS/Denis Balibouse/File Photo

As Saudi Arabia’s candidate for the presidency of the largest international trade organization - is expected to unveil his program, the Moldovan and South Korean candidates agreed that the World Trade Organization (WTO) needed to regain the members’ confidence and to launch a series of reforms.

WTO candidates will be presenting themselves until next Friday. They will have a few weeks until September 7 to persuade the capitals, which will choose the next president during a special meeting in Geneva.

This comes after Brazilian Roberto Azevedo suddenly announced leaving his post in mid-May, and officially giving up his duties at the end of August, a year before the end of his term.

On Thursday, candidates Tudor Ulianovschi of Moldova and Yoo Myung-hee of South Korea, underlined in their speeches the need to reform the WTO work mechanism and to restore confidence by enabling it to keep pace with the 21st century’s world trade.

In his address to the WTO members, Ulianovschi said the organization was not related to the global community today and must demonstrate its importance and do more. He noted that he presented his personal vision for the reform to the organization’s advisory council.

The Moldovan candidate said the top priority for the Director-General next year was to revitalize the organization’s functions, including its negotiating ability and the involvement of all members in the global discussions.

He added that the second priority was to revive the WTO’s judicial function. As for the third priority, he emphasized the need to enhance the principles of transparency and strengthen the supervision within the international organization.

Ulianovschi has assumed the post of Foreign Minister of Moldova from January 2018 to June 2019. He held other diplomatic positions, including his country’s ambassador to Switzerland, and has diplomatic experience of about 15 years.

For her part, Yoo Myung-hee, South Korea’s Minister of Trade, presented her vision for the WTO, stressing that the organization should become “a supreme court” in international trade matters.

She also said that the WTO was at a crossroads, and therefore needed a more confident reform process and integration into the global trading system.

“The world has changed and countries have changed, so there is a need to reorganize global trade,” she stated.

On Thursday, candidates Jesus Seade Kuri from Mexico, Abdel-Hamid Mahmoud of Egypt and Ngozi Okonjo-Iweala of Nigeria revealed their programs in front of 164 members of the council.

Other candidates include former British Minister of International Trade Liam Fox and former Saudi Minister of Economy and Planning Muhammad Al-Tuwaijri.

Saudi Arabia attaches great hopes to its candidate’s victory, especially after the strong confidence expressed by the international community in the Kingdom’s role in the global economic scene.

Al-Tuwaijri held a number of meetings with WTO officials, member-states and regional groups, on the sidelines of his visit to Geneva to present his candidacy speech to the Organization’s General Council.

He met with Roberto Azevedo, the current WTO director-general, the ambassadors of Arab countries and the group of Article XII which consists of 38 members, in addition to the Latin American and Caribbean group of 33 members, in the presence of the permanent representative of Saudi Arabia to the organization.

Al-Tuwaijri is expected to present his candidacy statement to the organization’s general council this Friday, following which he will hold a press conference with media representatives.

The Saudi minister’s nomination comes amid major global challenges in the trade system and reflects the Kingdom’s commitment to driving economic growth and achieving sustainable development.



Trump Touts ‘Done’ Deal with Beijing on Rare Earths, Chinese Students

In this photo released by Xinhua News Agency, Chinese Vice Premier He Lifeng, right, shakes hands with US Treasury Secretary Scott Bessent before their meeting to discuss China-US trade, in London, Monday, June 9, 2025. (Xinhua via AP)
In this photo released by Xinhua News Agency, Chinese Vice Premier He Lifeng, right, shakes hands with US Treasury Secretary Scott Bessent before their meeting to discuss China-US trade, in London, Monday, June 9, 2025. (Xinhua via AP)
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Trump Touts ‘Done’ Deal with Beijing on Rare Earths, Chinese Students

In this photo released by Xinhua News Agency, Chinese Vice Premier He Lifeng, right, shakes hands with US Treasury Secretary Scott Bessent before their meeting to discuss China-US trade, in London, Monday, June 9, 2025. (Xinhua via AP)
In this photo released by Xinhua News Agency, Chinese Vice Premier He Lifeng, right, shakes hands with US Treasury Secretary Scott Bessent before their meeting to discuss China-US trade, in London, Monday, June 9, 2025. (Xinhua via AP)

US President Donald Trump touted ties with China as "excellent" on Wednesday, saying the superpowers reached a deal after two days of talks aimed at preserving a truce in their damaging trade war.  

Trump said on his Truth Social platform that China would supply rare earth minerals and magnets -- vital elements for American industries -- while Washington would allow Chinese students to remain in US universities.  

His post came after top United States and Chinese negotiators announced a "framework" agreement late Tuesday following two days of marathon talks in London. 

"Our deal with China is done," Trump wrote, adding that the agreement was still "subject to final approval with President Xi (Jinping) and me." 

"President XI and I are going to work closely together to open up China to American Trade," he said in a second post. "This would be a great WIN for both countries!!!"  

US stock markets showed little enthusiasm despite Trump's statements, but major indexes edged higher in early trading.  

- 'Candid' talks -  

US Treasury Secretary Scott Bessent said Wednesday that it was possible to rebalance economic relations with China if Beijing proved a "reliable partner in trade negotiations."  

"If China will course-correct by upholding its end of the initial trade agreement we outlined in Geneva, and I believe after our talks in London they will, then the rebalancing of the world's two largest economies is possible," Bessent told lawmakers at the House Ways and Means Committee.  

The two sides agreed to reduce their tit-for-tat, triple-digit tariffs during talks in Geneva last month, but cracks appeared in the detente after Trump accused China of violating the deal.  

Washington was concerned at slower supplies of rare earths after Beijing in early April began requiring domestic exporters to apply for a license -- widely seen as a response to US tariffs.  

Rare earths are used in everything from electric vehicles to hard drives, wind turbines and missiles.  

US Commerce Secretary Howard Lutnick said in London on Tuesday that US measures imposed when rare earths "were not coming" would likely be relaxed once Beijing moved forward with more license approvals.  

On Truth Social, Trump said China will supply "full magnets, and any necessary rare earths" up front.  

Washington has infuriated Beijing by vowing to revoke the visas of Chinese students, a major source of revenue for US universities.  

On Wednesday, Trump said: "We will provide to China what was agreed to, including Chinese students using our colleges and universities."  

The US president also said that the United States applies 55 percent tariffs on Chinese goods -- a combination of his 30 percent additional levies this year and the rough average of pre-existing duties, a White House official said.  

He said Beijing charges 10 percent duties on US goods.  

The rates are the same as those that were previously agreed in the truce, which temporarily brought US tariffs down from 145 percent and those imposed by China from 125 percent.  

In a Chinese state media readout of the talks released Wednesday, Vice Premier He Lifeng, who headed Beijing's team in London, stressed the need for the two sides to strengthen cooperation in future dialogue.  

"As a next step, the two sides should... continuously enhance consensus, reduce misunderstandings and strengthen cooperation," He said, according to state broadcaster CCTV.  

Speaking to reporters in London, China International Trade Representative Li Chenggang earlier said: "Our communication has been very professional, rational, in-depth and candid."