China and EU to Resume WTO Talks

Strategic Insights -

China and the European Union are set to resume talks on China's accession to the World Trade Organization (WTO) following a 13-year bid. The move comes after China stated that it has not changed its position on joining the WTO and believes its entry is essential for the organization's completeness. China's foreign trade and economic cooperation minister, Shi Guangsheng, has been in contact with the EU to arrange concrete talks. The renewed efforts to join the WTO follow a period of stalled negotiations between China and the United States.

Key Takeaways:

  • China's accession to the WTO has been a 13-year process, with the country now seeking to resume talks with the European Union.
  • China's foreign trade and economic cooperation minister, Shi Guangsheng, has stated that the country's position on joining the WTO remains unchanged.
  • China believes that its entry into the WTO is essential for the organization's completeness, and aims to join as a developing country with balanced rights and obligations.
  • The move comes after a period of stalled negotiations between China and the United States, following the NATO attack on the Chinese embassy in Belgrade in May.
  • China's president, Jiang Zemin, has been in informal talks with US President Bill Clinton as part of the APEC leaders' summit in Auckland, New Zealand.
  • The United States has sought a resumption of talks through various channels in recent weeks.
  • China's accession to the WTO is expected to bring significant economic benefits and increased trade opportunities for the country.

Statistics:

  • 13 years: the duration of China's bid to join the WTO.
  • 2: the number of countries involved in the resumed talks, China and the European Union.
  • 1: the number of WTO accession talks that have been stalled between China and the United States.

Sources:

  • XINHUA, Sept. 20
  • Daily News (China) 20 Sep 1998
  • COMTEX (http://www.comtexnews.com)