China - a step closer to WTO

09 July 2001 00:00  [Source: ICB]

World Trade Organisation members are making every effort for approval of Chinese membership before a ministers' meeting in Qatar in November this year. A meeting will be held next week for drafting China's entry terms. Director-general of the WTO, Mike Moore, lauded Chinese and EU negotiators for bringing China a step closer to membership of the WTO.

According to Stephen Elliott, head of international trade at the UK's Chemical Industry Assoc-iation, China's accession is broadly welcomed. 'We are pleasantly surprised by China's tariff offer, which is close to that of the International Council of Chem-ical Associations.' However, there is a huge difference between signing up and implementation.

Other concerns include the European chemical industry's competitiveness with China. 'The onus on European chemical companies will be to identify and promote non-price related issues to help them compete with the Chinese,' Elliott said, adding that membership of the WTO should help China develop domestic purchasing power.

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