China to enter WTO in the 'near term'

Patrick Low says he can see the light at the end of the tunnel in China's long walk to enter the WTO

By Staff writers

HONG KONG, China -- China will join the World Trade Organisation shortly, despite reports it might not occur until late in 2001, a senior WTO official says.

Patrick Low, a director of the WTO, says the entry of China into the global trade body is in the final stages. "We're talking about something in the near term," he told CNN on Wednesday.

Low's comments followed a day of confusion in China's Foreign Trade Ministry after Shi Guangsheng, the foreign trade minister, was quoted in the State-run China Business Times as saying the entry would not occur until October or November.

But a spokesperson from the ministry told CNN.com the information was "unofficial". The spokesperson said an investigation was under way as to how the information was reported.

AUDIO China's Vice Minister for Foreign Trade Long Yongtu talks about WTO 891K/1 min. 22 sec. AIFF or WAV sound

China Business Times, the newspaper that reported the news, says their reporter might have misinterpreted Shi's words during a private conversation. They would make a correction within a couple days.

"Light at the end of the tunnel"

Low says he can see "the light at the end of the tunnel" in the lead-up to China's accession to the WTO after years of negotiations. "We're looking at discussions which will come to a closure pretty soon," he says.

He refuses, however, to pin a date to the event, and added that some countries remain unhappy with some issues, such as China's domestic agricultural subsidy plans.

Supachai Panitchpakdi is to take over the WTO Director-general post next September

"Agriculture is a sticking point, and there are a number of issues that are still to be finally agreed," he says

WTO director-general Mike Moore, and Supachai Panitchpakdi who takes over the position in September 2002, have said they are confident that China would join the WTO in the first half of this year.

"I have hope - and let's hope - that by (March) China could join and be ready to become a full participant at the next round of trade negotiations," Supachai said Monday in Hong Kong at a British Chamber of Commerce lunch.

Next round of talks in March

Long Yongtu, China's WTO negotiation team chief, has said that the next round of talks will be in March. World Trade Organization office in Geneva told CNN.com that the date for the next talk has not been fixed yet. They are hoping to set a date by next week.

But analysts say China getting the accession several months sooner or later is not important. The entry has been delayed for a year already.

China's WTO negotiation team chief Long Yongtu has said the next round of WTO talk will be in March

"The date has no significance. What is crucial is the concession China has to make and the price it needs to pay for a late entry," says Lan Xue, Merrill Lynch's head of China research told CNN.com

If the process drags on after the first half of this year, the U.S. Congress will have to vote again on the politically sensitive Permanent Normal Trading Relations (PNTR) issue.

The decision of the U.S. Congress last year to grant China PNTR status was conditional on a quick wrap-up to WTO accession talks.

"That would create market uncertainty especially when it is discussed under the new Bush administration," Lan says.

Last week, Mike Moore told a conference in Washington that China's demand to be treated as a developing country with respect to trade rules on agricultural subsidies was delaying the mainland's accession.

A developing country can provide subsidies of up to 10 percent of the total agriculture output.

Chinese entrepreneurs hope to benefit from WTO membership
May 14, 2000
China, Malaysia sign WTO deal; U.S. labor fights pact
April 13, 2000
EU, China negotiators work toward WTO entry pact
March 30, 2000
EU, Chinese negotiators adjourn WTO talks until Thursday
March 29, 2000

WTO
China Business Times
Xinhua News Agency

Note: Pages will open in a new browser window

External sites are not endorsed by CNN Interactive.