16 Sept 10 - China´s Vice President, UNCTAD SG meet

WIFVice President Xi Jinping of China and UNCTAD Secretary-General Supachai Panitchpakdi discussed global trade and investment when they met on 8 September at UNCTAD's Second World Investment Forum.

Supachai Panitchpakdi meets Vice President
Xi Jinping of China

The Vice President, who delivered an address at the opening ceremony of the World Investment Forum (WIF) on 7 September in Xiamen, China, met with Secretary-General Supachai the following day and said China fully backs UNCTAD's efforts to promote an open, equitable global trade and investment regime.

Mr. Xi emphasized at the opening that China is committed to global engagement through foreign investment. He also announced a new government policy position on national treatment for foreign affiliates in government procurement.

In his keynote address, Mr. Xi commended UNCTAD for convening the Forum. "The first world forum sponsored by UNCTAD in 2008 played a positive role in improving the global investment environment and promoting investment cooperation," he said.

"The theme of this year's Forum, 'Investing in Sustainable Development,' meets the aspirations of countries in the world, developing countries in particular, for promoting economic development through foreign investment attraction, and contributes to the attainment of the United Nations Millennium Development Goals. Let me take today's opportunity to express my deep regards to UNCTAD for the important contribution it has made over the years for upholding and advancing the interests of developing countries."

The UNCTAD Secretary-General, who chaired the opening session, emphasized that the world is entering a new phase of globalization characterized by both State- and market-driven economic approaches, and by the recognition of the importance of investment as an engine of growth. Indeed, he said, large-scale public investment has so far rescued the global economy from a prolonged depression. However, as stimulus packages are exhausted, private investment must step in to ensure sustainable growth and development, he added. The public sector alone cannot indefinitely support development without private investment.

Mr. Supachai also told the meeting that private investment will be essential for overcoming the food, energy, and climate-change crises, and will contribute to achieving the MDGs.

At the 8 Sept. meeting with Mr. Supachai, Vice President Xi said China is eager to share with other developing nations its experiences and lessons learned in promoting economic growth and raising citizens' living standards.

World Investment Forum 6-9 September 2010



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