By Bill Savadove
BEIJING (Reuters) - China and Australia signed an agreement Monday on entry to the World Trade Organization, bringing Beijing's accession to the trade club a step closer.
Australian Trade Minister Mark Vaile said China's trade chief Shi Guangsheng expressed hope in talks that the U.S. Congress would approve permanent normal trade relations (PNTR) for China, helping pave the way for WTO entry.
A bitterly divided U.S. House of Representatives will vote on the trade bill Wednesday. The White House and Republican lawmakers are still scrambling to ensure approval.
"We are both very hopeful of the passage of PNTR this week and I think as the days go by, there's a higher level of confidence that it will take place," Vaile told a news briefing.
Shi said that China had entered the "final phase" in its bid to enter the WTO and would strictly observe the rules of the body, the official Xinhua news agency reported.
China signed a WTO agreement with the European Union on Friday, leaving just five countries with which Beijing must conclude deals. They are Costa Rica, Ecuador, Guatemala, Mexico and Switzerland.
The United States and China reached a bilateral agreement in November last year after hard-fought negotiations.
The agreement with Australia was reached in principle last year, but there were some "improvements" in the document signed Monday, Australian officials said.
"There has been some improvement in terms of implementation and a few other issues with regard to tariffs on particular products," Vaile said.
The changes include clarification that China will implement tariff commitments on canola seeds and sugar immediately on entry rather than phased in over four years, officials said.
China also confirmed that there were "no substantive difficulties" in granting more business licenses to Australian firms for banking, insurance, law and accountancy, they said.
Business Deals Signed
Vaile, who is also leading a business delegation to China, said his trip and the bilateral WTO agreement would help improve trade between the countries.
Australia's Long Airdox Pty Ltd. signed Monday an agreement for the sale of A$10 million ($5.7 million) in coal washing equipment to the China National Coal Import and Export Corp. The Muirfield Group also signed an agreement for three joint ventures with the China's Hengdian Turfgrass Co. Ltd., the Australian company said in a statement.
The ventures cover replanting in southwest China, a nursery in the eastern province of Shandong and the construction of golf courses in Beijing and other areas, it said.:
