Extracts. WTO special. The World Trade Organization (WTO) finally opened its door on Saturday to accept China, the world's most populous -- and currently most robust -- economy, sending a positive signal to the world economy loitering on the brink of a full-blown recession. It took only minutes for WTO trade ministers to symbolically deliberate and then, on a basis of consensus, adopt a report of the China Working Party with a rising applause. Chairman of the ongoing WTO conference Youssef Hussain Kamal of Qatar banged the gavel after the resounding long-time applause. All ministers cracked broad smiles in a rare light moment during the ongoing tense talks on free trade. The overall formality is only a twinkling of eye in the 15-year-long arduous negotiations between China and its trading partners leading up to the historic moment. Widespread and Far-reaching Impact on China and World Economy: Shi The Chinese delegation led by Minister of Foreign Trade and Economic Cooperation Shi Guangsheng became a darling of media cameramen. All the participants gave Shi a standing ovation before he took the floor. In his speech (Full Text <http://english.peopledaily.com.cn/200111/11/eng20011111_84304.shtml> ), Shi said that the WTO accession and its full participation in the multilateral trading system are "strategic decisions made by the Chinese leaders under accelerated economic globalization." "The WTO accession is not only in the interests of China, but also in the interests of all WTO Members and conducive to the development of the multilateral trading system," he said. "It will inevitably exert widespread and far-reaching impact on China's economy and on the world economy in the new century." Shi also promised that China will, on the basis of the balance between rights and obligations, abide by the WTO rules and honor its commitment while enjoying its right. Trade Negotiators Extend Warm Greetings Nearly 20 top trade negotiators then took the floor to extend a chorus of warm greetings to the new member of the WTO community. Pakistani Minister of Commerce, Industry and Production Abdul Razak Dawood said all were "overjoyed that the long saga of China's accession to the WTO reached its final destination." He also commended flexibility demonstrated by China during the negotiation process, adding that China's accession will have significant implications on the WTO and the multilateral trading system. By admitting China with a quarter of the world's population the WTO will become a truly universal organization "with much credibility," he said. "We are confident that China's participation in the WTO will help strengthen the ongoing endeavor of developing countries to secure a better reflection of their economic priorities and trade interests." China and the WTO will sign a membership protocol Sunday, which needs to be ratified by the former's legislature. Under WTO rules, China will become a full member 30 days after it notifies the global trade body of the legislature's approval of the document. **** China, after its accession into the World Trade Organization (WTO), will abide by the WTO rules and honor its commitments, Shi Guangsheng, the Chinese minister of foreign trade and economic cooperation, said Saturday in Doha. China will enjoy its rights, and maintain consistency for equal and mutually beneficial economic and trade relations with countries and regions in the world, said Shi, also head of the Chinese delegation at the ministerial conference, following the adoption of the Decision on China's Accession to the WTO. Shi said: "After 15 years of difficult negotiations, we finally came to this historical moment." He expressed gratitude to all sides who have been devoted to China's entry into the WTO over the past 15 years. He said the WTO accession and its full participation in the multilateral trading system are strategic decisions made by the Chinese leaders under accelerated economic globalization. "China has made long-standing and unremitting efforts for resuming its GATT Contracting Party status and for acceding to the WTO, which fully demonstrates the resolve and confidence of China to deepen its reform and to open further to the outside world," he noted. Shi said the WTO entry would benefit the interests of both China and all WTO members, and would also be conducive to the development of the multilateral trading system. It is expected to exert a widespread and far-reaching impact on the Chinese economy and the world economy. He said China would play an active and constructive role in the multilateral trading system and make positive contributions to the progress of the world economy and trade together with other WTO members. Since it participated in the Uruguay <http://www.peopledaily.com.cn/english/data/uruguay.html> Round Negotiations for the first time in September 1986, China has witnessed the historical transformation of the multilateral trading system from GATT to the WTO while carrying out its opening up and reform policies accompanied by the process of applying for the WTO entry, Shi said. He said China had realized that various countries in the world could better share the benefits of economic globalization under the framework of a multilateral trading system. It was vital for a country to avoid its disadvantages while fully playing its advantages by establishing an economic and trade regime in line with international practices and the specific situation of the country. Meanwhile, he said, only by constantly adapting itself to the development and changes of the world economy and by fully reflecting the interests and requirements of all parties including developing countries, could the multilateral trading system maintain its vigor and vitality. China Supports New Round of WTO Trade Talks China supports the launch of a new round of multilateral trade negotiations on the basis of full consideration of the interests and reasonable requirements of developing countries, Shi said. China believes that a new round should be conducive to the establishment of a fair, just and reasonable international economic new order, to the development of world economy as well as trade and investment facilitation, and to the achievement of a balance of interests between developed countries and developing countries, Shi said in a statement following the adoption of the Decision on China's Accession to the WTO at the ongoing ministerial conference. WTO members need to face up to the obvious defects of the existing multilateral trading system so as to reflect the interests and demands of developing countries, said the Chinese minister. He said WTO members should formulate the international trade rules of the new century through "equal participation and consultation," which would enable more developing countries to share the opportunities and interests brought about by economic globalization, help avoid further widening of the gap between rich and poor and protect some countries against being marginalized. He emphasized the importance of differential treatment. He said full consideration should be given to "the development level of relevant industries of developing countries and special treatment be rendered to the extent and speed of their opening." Shi described the road from Seattle to Doha as "by no means an easy path," but one that had generated profound thoughts and enlightenment. Shi indicated his belief that by working together, WTO members would make continued contributions to the stability and development of world economy and trade. Full Text of the statement of Shi Guangsheng The following is the full text of the statement of Shi Guangsheng, Chinese foreign trade minister and head of the Chinese delegation to the Fourth Ministerial Conference of the World Trade Organization (WTO), following the adoption of the Decision on China's Accession to the WTO at the ongoing ministerial conference on November 10, 2001: Mr. Chairman, After 15 years of difficult negotiations, we finally came to this historical moment. Hereby, on behalf of the Chinese government, I would like to appreciate the WTO Ministerial Conference for its adoption of the Decision on China's Accession to the WTO. And I would like to take this opportunity to thank all WTO Members and Mr. Girard, Chairman of the Working Party on China, for your support for China's accession over the years. My gratitude also goes to Mr. Mike Moore, Director-General of the WTO, to the former Director-Generals of GATT and the WTO, Mr. Dunkel, Mr. Sutherland and Mr. Ruggiero who have given their support and assistance in the past 15 years. The WTO accession and its full participation in the multilateral trading system are strategic decisions made by the Chinese leaders under accelerated economic globalization. China has made longstanding and unremitting efforts for resuming its GATT Contracting Party status and for acceding to the WTO, which fully demonstrates the resolve and confidence of China to deepen its reform and to open further to the outside world. The WTO accession is not only in the interests of China, but also in the interests of all WTO Members and conducive to the development of the multilateral trading system. It will inevitably exert widespread and far-reaching impact on China's economy and on the world economy in the new century. After its accession, China will, on the basis of the balance between rights and obligations, abide by the WTO rules and honor its commitments while enjoying its rights. China will, as always, value and strengthen equal and mutually beneficial economic and trade relations with countries and regions in the world, and play an active and constructive role in the multilateral trading system and make its positive contribution to the progress of world economy and trade together with other WTO Members. Mr. Chairman, China first participated in the Uruguay Round Negotiations in September 1986 and witnessed the historical transformation of the multilateral trading system from GATT to the WTO. Meanwhile, China's negotiations for the accession to the multilateral trading system over the past 15 years have been an integral part of the process of its reform and opening up from the beginning to the end. We have drawn the following three basic conclusions from our own experiences: First, only by participating in the multilateral trading system with a positive stance, can various countries in the world better share the benefits of economic globalization; Second, during the course of economic globalization, only by establishing an economic and trade regime in line with international practices and the specific situation of the country, can they avoid their disadvantages and fully play out advantages, and therefore effectively safeguard their respective economic security while opening to the outside world; and Third, only by constantly adapting itself to the development and changes of world economy and by fully reflecting the interests and requirements of all parties including developing countries, can the multilateral trading system maintain its vigor and vitality. Mr. Chairman, The road from Seattle to Doha is by no means an easy path, which has generated profound thoughts and enlightenment. The Seattle Conference two years ago failed to launch the new round of multilateral trade negotiations. We believe that in face of the rapid development of economic globalization of today, we should follow the development of the situation and to jointly formulate relevant rules through consultations on an equal footing among Members and to carry out effective coordination and management over the ever widened and complicated international economic and trade activities. Therefore, we need to face up to the obvious defects of the existing multilateral trading system so as to reflect the interests and demands of developing countries in a more adequate fashion. 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. Mr. Chairman, China supports the launch of a new round of multilateral trade negotiations on the basis of full consideration of the interests and reasonable requirements of developing countries. China believes that a new round should be conducive, first, to the establishment of a fair, just and reasonable international economic new order; second, to the development of world economy as well as trade and investment facilitation; and third, to the achievement of a balance of interests between developed countries and developing countries. We believe that to achieve the above goals, we need to ensure that in the new round, Full consideration be given to the development level of relevant industries of developing countries and special treatment be rendered to the extent and speed of their opening; Pragmatic and effective measures be adopted to guarantee the implementation of the Uruguay Round agreements; All-round and effective participation of developing members be guaranteed and both the identification of topics and the negotiations be based on consultation on an equal footing; and A balanced and package approach be taken to ensure that the results of the negotiations reflect an overall balance of the interests of various parties. Mr. Chairman, The new century is full of opportunities and challenges. Let us work together to meet these challenges, and to consolidate and strengthen the multilateral trading system and to make continued contributions to the stability and development of world economy and trade. In conclusion, please allow me, on behalf of the Chinese government, to express our appreciation to the Qatari government for its hard work for the Fourth Ministerial Conference of the WTO. _________________________________________________ KOMINFORM P.O. Box 66 00841 Helsinki Phone +358-40-7177941 Fax +358-9-7591081 http://www.kominf.pp.fi General class struggle news: [EMAIL PROTECTED] subscribe mails to: [EMAIL PROTECTED] Geopolitical news: [EMAIL PROTECTED] subscribe: [EMAIL PROTECTED] __________________________________________________
