New round of Geneva talks begin

(07/17/2001)

A new round of multilateral negotiations began Monday in Geneva on China's entry to the World Trade Organization (WTO).

Officials with the Ministry of Foreign Trade and Economic Co-operation (MOFTEC) said the meeting, the 17th of the WTO China working team, is to last until Friday.

They said the meeting is to wrap up the legal documents on China's WTO accession, including a report of the China working group and a multilateral agreement.

But experts guessed that the meeting has more to discuss than the technical issues.

"China has yet to bridge differences with the United States and the European Union on shareholding restrictions in Sino-foreign joint-venture insurance companies and tariff rate quotas,'' an expert close to the Chinese WTO negotiation delegation told China Daily.

The expert, who declined to be named, said some developing countries became worried that the Sino-US agreed subsidies for China's agriculture could deal a blow to domestic farming industries.

China and the US agreed 8.5 per cent agricultural subsidies in early June.

China declared it had substantially completed the multilateral negotiations on concluding the 16th meeting of the WTO China working party on July 4.

MOFTEC spokeswoman Gao Yan said the legal documents on China's WTO membership were expected to be finalized at the 17th meeting.

The WTO China working party was expected to legalize these legal documents in September after check and confirmation by WTO members.

If the November WTO ministerial meeting in Qatar passed China's application to join the world trade body, China would become a formal member in 30 days.

WTO Chief Negotiator of the MOFTEC Long Yongtu, who stayed in Geneva after the 16th meeting of the WTO China working team concluded on July 4, is also expected to have bilateral talks with Mexico on the sidelines of the meeting.

China has clinched deals with all 37 WTO members that asked for bilateral talks with the country except Mexico.

MOFTEC officials said earlier that Mexico was expected to finalize its deal with China in August.

Mexico has promised support for China's WTO accession and the lack of a final bilateral agreement is not expected to delay China's entry at the November WTO ministerial meeting in Qatar, they said.