EU and China Agree to Resume WTO Membership Talks

The European Union and China have agreed to restart negotiations on Beijing's membership in the World Trade Organisation (WTO), following a six-month hiatus. The decision was reached after a meeting in Berlin between Pascal Lamy, the EU's trade commissioner, and a Chinese delegation led by Shi Guangsheng, the country's foreign trade minister. The talks, which are set to resume in the near future, aim to iron out differences in Beijing's bid to join the WTO, but no timetable has been established for reaching a final agreement.

Key Takeaways:

• China's membership in the WTO has been stalled for six months, following the accidental NATO bombing of its embassy in Belgrade.
• The EU and China have agreed to resume negotiations, despite indications that China will take a "very tough position" in the talks.
• The remaining differences between the two parties are significant, with one EU official warning that setting a target date for an agreement would risk creating a "straitjacket" for the talks.
• China has named Long Yongtu, the country's vice-minister of foreign trade, as its chief negotiator in the resumed talks.
• The EU team will be headed by Hans-Friederich Beseler, head of the Commission's trade directorate.

Statistics:

• Six months: the length of time China's membership in the WTO has been stalled.
• No timetable has been set for the resumed talks, suggesting that a final agreement may not be reached before the WTO's ministerial meeting in Seattle.
• 100%: the indication that China is likely to take a tough position in the negotiations.
• 50-50: the likelihood of reaching a deal before the ministerial meeting in Seattle, according to one European official.

Sources:

• "EU and China to resume WTO membership talks", Financial Times Limited, 1999.