Associated Press / Elaine Kurtenbach, Associated Press Writer
BEIJING (AP) -- European Union and Chinese trade negotiators today held their most extensive talks in three days of bargaining over a market-opening deal that would speed China's long-sought entry to the World Trade Organization.
The negotiators spent four hours delving into the "nitty gritty" issues, EU delegation spokesman Anthony Gooch said. After the EU laid out a proposal and left the table Thursday afternoon, Gooch said, China asked for a fourth day of talks Friday.
"We're hopeful that with hard work we can get an agreement," Gooch said, although he would not speculate on how soon a deal could be reached. "We'll stay here as long as it's constructive."
The 15-nation European Union is the most important among eight WTO members China needs to reach separate market-opening agreements with before it can join world trade's rule-setting body.
Talks between the EU and China opened amid optimism this week.
Unlike two previous rounds this year, EU Trade Commissioner Pascal Lamy led the delegation, a sign negotiations were down to thorny political matters. He met Wednesday with Chinese Premier Zhu Rongji in another sign the sides were seeking breakthroughs.
In Brussels, World Trade Organization Director General Michael Moore said Wednesday he was hopeful that China will gain entry to the WTO this year.
"The clock is ticking, but I'm hopeful," Moore said.
But despite the meeting with Zhu and Moore's hopeful words, Lamy's negotiations with Chinese foreign trade minister Shi Guangsheng on Thursday morning resulted in "nothing special," Gooch said.
EU and Chinese officials have declined to give details on what differences remain. Europe has been seeking greater access to China's automobile, insurance and telecommunications markets and more licenses for insurers.
The Chinese newspaper Southern Weekend said today that telecommunications and insurance were the most crucial areas of disagreement. It said Europe wanted to be able to have 51 percent of shares in joint ventures in those industries. But it also said China considered those areas strategic industries and would not allow foreigners majority stakes.
"Since no concession was made on this bottom line to the United States, the chances of a concession to the European Union also are not great," wrote financial reporter Zhang Tingbin.
After 14 years of trying, China has made joining WTO this year a priority. It hopes the rules-based WTO regime will bring in foreign investment and force long-protected state industries to make reforms they have resisted.
Copyright 2000 by The Associated Press.:
