BEIJING: China supports the work of the World Trade Organization (WTO), the country’s Foreign Ministry said on Thursday, after US President Donald Trump’s administration said it might defy WTO rulings it viewed as interfering with US sovereignty.
Maintaining a fair and open multilateral system with the WTO at its center benefits global economic growth and is in the interests of everyone, Foreign Ministry spokesman Geng Shuang said.
“Since China joined the WTO it has always proactively supported the WTO’s work, and this position will not change,” he told a daily news briefing, when asked about the US proposal.
China’s Commerce Ministry declined immediate comment. In an annual trade policy agenda document released to Congress on Wednesday, the US Trade Representative’s office said the administration “will not tolerate” unfair trade practices that distort markets.
These range from currency manipulation and unfair government subsidies to intellectual property theft, it added.
The document signals that the administration may try to push the limits of what is acceptable under WTO rules in its quest to make good on campaign promises to slash US trade deficits with China and Mexico, and bring home manufacturing jobs.
It marks a departure from the Obama administration’s strict adherence to WTO compliance in its challenges to unfair foreign trade practices.
China, worried that its export-dependent industries will suffer, has repeatedly urged global leaders to reject protectionism, which Trump has championed with his “America First” campaign.
China supports WTO after US trade threat
China supports WTO after US trade threat
Acwa signs key terms to develop 5GW of renewable energy capacity in Turkiye
JEDDAH: Saudi utility giant Acwa has signed key investment agreements with Turkiye’s Ministry of Energy and Natural Resources to develop up to 5 gigawatts of renewable energy capacity, starting with 2GW of solar power across two plants in Sivas and Taseli.
Under the investment agreement, Acwa will develop, finance, and construct, as well as commission and operate both facilities, according to a press release.
The program builds on the company’s first investment in Turkiye, the 927-megawatt Kirikkale Independent Power Plant, valued at $930 million, which offsets approximately 1.8 million tonnes of carbon dioxide annually, the statement added.
A separate power purchase agreement has been concluded with Elektrik Uretim Anonim Sirketi for the sale of electricity generated by each facility.
Turkiye aims to boost solar and wind capacity to 120GW by 2035, supported by around $80 billion in investment, while recent projects have already helped prevent 12.5 million tonnes of CO2 emissions and reduced reliance on imported natural gas.
Turkiye’s energy sector has undergone a rapid transformation in recent years, with renewable power emerging as a central pillar of its strategy.
Raad Al-Saady, vice chairman and managing director of ACWA, said: “The signing of the IA (implementation agreement) and PPA key terms marks a pivotal moment in Acwa’s partnership with Turkiye, reflecting the country’s strong potential as a clean energy leader and manufacturing powerhouse.”
He added: “Building on our long-standing presence, including the 927MW Kirikkale Power Plant commissioned in 2017, this step elevates our partnership to a new level,” Al-Saady said.
In its statement, Acwa said the 5GW renewable energy program will deliver electricity at fixed prices, enhancing predictability for grid planning and supporting long-term industrial investment.
By replacing imported fossil fuels with domestically generated clean energy, the initiative is expected to reduce Turkiye’s exposure to global energy market volatility, strengthening energy security and lowering long-term power costs.
The company added that the economic impact will extend beyond the anticipated investment of up to $5 billion in foreign direct investment, with thousands of jobs expected during the construction phase and hundreds of high-skilled roles created during operations.
The energy firm concluded that its existing progress in Turkiye reflects a strong appreciation for Turkish engineering, construction, and manufacturing capacity, adding that localization has been a strategic priority, and it has already achieved 100 percent local employment at its developments in the country.
