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The documents
adopted today by the Conference are the report of the Working Party
for the Accession of China, the protocol of accession, which includes
the terms of membership, and the schedule of China’s commitments on
market access for goods and services.
“This
is an historic moment for the WTO, for China and for international
economic cooperation”, said WTO’s Director-General, Mike Moore,
commenting on the approval of China’s accession.
“China,
one of the fastest growing economies in the world, has made tremendous
progress in the last decade in reducing poverty thanks to an economic
system increasingly open to trade and foreign investment. Now this
economy will be subjected to the rules-based system of the WTO,
something which is bound to enhance global economic cooperation”,
said Mr. Moore.
After
the approval of China’s accession, the head of the Chinese
delegation, Shi Guangsheng, Minister of Foreign Trade and Economic
Cooperation, said “We need to invite all members to formulate the
international trade rules of the new century through equal
participation and consultation, so as to enable more developing
countries to share the opportunities and interests brought about by
the economic globalization and to avoid the further widening of the
gap between rich and poor and protect some countries against being
marginalized.”
Under
the chairmanship of Ambassador Pierre-Louis Girard of Switzerland, the
Working Party concluded on 17 September almost 15 years of
negotiations with China and agreed to forward some 900 pages of legal
text for formal acceptance by the 142 Member governments of the WTO.
As
a result of this negotiation, China has agreed to undertake a series
of important commitments to open and liberalize its regime in order to
better integrate in the world economy and offer a more predictable
environment for trade and foreign investment in accordance with WTO
rules.
For
further information and background on China’s membership of the WTO click
here. |
