Reuters | By Phil Stewart | August 29, 2001
BOGOTA, Colombia - China could enter the World Trade Organization as early as November, with only procedural delays remaining, WTO Director-General Mike Moore said Wednesday.
Moore told Reuters in an interview that political obstacles had been resolved and that the process of China's "accession is going through quite neatly."
"I think I'm now confident to say we are now into procedural issues, not issues of deep substance and difference," Moore said.
"I hate to say this because I was wrong last year, but it looks very good for this year."
WTO officials said in July that ministers from all the WTO countries could formally approve China's entry terms -- widely expected to bring major changes to the global trading scene -- when they gather in Doha, Qatar, from Nov. 9 to 13.
That would enable China to become a member in the first quarter of 2002, more than a decade after it applied.
Negotiations with Taiwan, regarded by China as a rebel province, were completed more than a year ago. There is an informal accord in the WTO that Taiwan can be admitted only after the mainland.
Moore said it was possible China could enter the WTO in time to participate in the Qatar meetings in November, but added approval was more likely to occur toward the end of the year.
"It's an issue of can we get it done by the end of the year, by the beginning of next year, or can we possibly do it by Qatar. I would be very proud and pleased if we could do it by Qatar," he said.
BOOST TO GLOBAL COMPETITION
China's entry will put it on equal footing under WTO rules with all other members and compel them to open their markets wider to Chinese products. It is expected to give a huge boost to global competition in consumer and agricultural goods.
It will also open the Chinese market of more than a billion people, one-sixth of the world's population, to foreign goods and services, like insurance, banking and telecommunications.
China's powerful State Development Planning Commission warned earlier this month of "macroeconomic problems" that would arise after entry into the WTO, and analysts have warned of a possible flood of grains imports due to easing tariffs.
Traders have speculated that China's recently announced restrictions on genetically modified foods are meant to control imports after WTO entry.
Moore said that even if that were true, the WTO at present could do nothing about it. He said there were no rules against restrictions on GMOs.
"We can only work with the rules that we have at the moment," Moore said.
"There are countries that are promoting these issues (over GMO foods) for consideration at Doha. ... There is certainly no consensus on this. It is an area of major difference still."Reuters:
