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WTO bid gets boost
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CHINA'S stalled bid to join the World Trade Organization (WTO) seemed to be reviving as its top trade negotiator said the country is holding “constructive” talks with Mexico and the United States.
Mexican President Vicente Fox, who is in China on a four-day state visit, said on Wednesday that his country would not oppose China's entrance into the WTO.
Mexico, the only WTO member that has not reached a bilateral agreement on China's entry, has agreed not to put up obstacles to Chinese membership of the WTO even if a bilateral deal was not reached.
Mexico delayed signing a bilateral agreement in favour of China's accession due to Mexican business concerns about what they see as unfair competition from Chinese imports.
After 15 years of negotiations, China hopes to join the body that makes rules for world trade this year. But it needs approval from all WTO members. Talks with Mexico were interrupted in November because Chinese negotiators were waiting for Fox's administration to take office.
WTO headquarters said on Tuesday it would convene a five-day formal session of a working party on June 28 for negotiations on China's bid to join the 141-nation group.
Long Yongtu, chief negotiator of China's Foreign Trade and Economic Cooperation Ministry, told reporters at a two-day meeting of Asia Pacific Economic Co-operation (APEC) trade ministers and representatives in Shanghai that China's WTO talks with the United States have been “constructive”.
US Trade Representative Robert Zoellick echoed Long's remarks yesterday, saying he hoped China will join the WTO by the end of this year.
China's WTO entry has stalled this year due to disputes over agricultural subsidies. China insists it join the WTO as a developing nation, while the United States and other countries say it should join as a developed country. That leaves the two sides arguing over the level of subsidies China can offer its farmers.
Trade officials attending the APEC forum on Wednesday also urged the removal of obstacles blocking China's WTO entry.
An APEC report also called for China's accession to the trade body within this year.
WTO chief Mike Moore said at a press conference on the sidelines of the APEC forum that it was vital China take part in the next round of global trade talks which the Geneva-based body aims to launch later this year.
“It's inconceivable that a new round (proceed) and China not be part of the WTO inside that negotiation,” Moore said.(SD News)
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