(CIIE) China's import expo a new paradigm for global cooperation: UN official

SHANGHAI, Nov. 5 (Xinhua) -- The China International Import Expo (CIIE) is a place to pool ideas, cultures, and a new paradigm for global action and international cooperation, said a UN official here Sunday.

The CIIE, as a powerful exchange platform, shows China's commitment to balancing trade relations with countries around the world, especially with developing countries and small and medium-sized enterprises, said Rebeca Grynspan, secretary-general of the United Nations Conference on Trade and Development (UNCTAD), at the opening ceremony of the sixth CIIE, which runs from Sunday to Friday.

"As China has proven, opening up is not just about removing trade barriers or encouraging investment, it is about opening minds to new ideas and hearts to cultural exchange," Grynspan said.

The world is in desperate need of solidarity and multilateralism, as only 15 percent of the UN Sustainable Development Goals are on track, and the global GDP growth is slowing down to 2.4 percent this year, she said.

The global economy is at a crossroads, where disputed growth paths, widening inequalities, growing market concentration and mounting debt burdens cast shadows on the future, according to a latest report from UNCTAD.

UNCTAD was established in 1964 as an intergovernmental organization to promote the interests of developing states in world trade.