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Leaders endorse eWTP at G20 Hangzhou summit to benefit world trade

Reporter: Li Sien, Zhang Chuanlu, Xing Mingzhe 丨 CCTV.com

09-08-2016 10:47 BJT

Full coverage: G20 Hangzhou Summit

One of the major outcomes endorsed by world leaders at the G20 Hangzhou summit is to establish the Electronic World Trade Platform, or eWTP. It was initiated by Jack Ma, founder and chairman of the Alibaba Group. So how will it work and what does it mean to the global trade system? CCTV’s Xing Zheming asked some participants from the China International Fair for Investment and Trade in Xiamen about their comments on the e-WTP.

Anna Kovaleya from Yandex Money, said, "We believe it is a great step. Obviously, given the current landscape, it’s an interesting project which has a potential. But we also believe that the existing platforms are gonna be competing. So we believe in competition and with the existence of one more platform like that is also going to improve the quality of the existing ones."

Nico Leerdam, co-chairman of european investment council, said, "In the realm of e-commerce development, large international organization like the WTO should get involved into providing a very good set of guidelines and a way where they can stimulate and facilitate the trade further. I have recently also heard about the initiative from Jack Ma. I think it is very good. That many countries will get involved and set up similar ideas, a very good platform for developing the trade."

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