China Sets Forth Position on New Round of Multilateral Negotiations

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Last updated at: (Beijing Time) Thursday, December 20, 2001

China Sets Forth Position on New Round of Multilateral Negotiations

Long Yongtu, vice minister of Foreign Trade and Economic Cooperation of China, said at the ongoing General Council Meeting of WTO in Geneva that the new multilateral negotiations should be taken into consideration given the economic reality and needs of developing countries.

Consideration given to developing countries

A senior Chinese trade official said Wednesday in Geneva that the new multilateral negotiations should be taken into consideration given the economic reality and needs of developing countries.

Long Yongtu, vice minister of Foreign Trade and Economic Cooperation of China, made the remarks at the ongoing General Council Meeting of the World Trade Organization (WTO).

He said the new round should give the developing countries, especially the least developed countries, special consideration with regard to the extent and speed of their opening of markets.

Overall balance and interests of all parties

He urged that the new round should adopt "practical and efficient measures to ensure the implementation of Uruguay round agreements."

The Chinese trade official pointed out that "the new round should ensure full and effective participation of developing members and achieve overall balance regarding the final results of negotiation so as to reflect interests of all parties."

China's positive role in multilateral trading system

Long said that the Chinese leadership made the strategic decision to join the WTO and participate fully in the multilateral trading system manifested China's determination and confidence in deepening its reform and opening to the outside world.

"As a WTO member, China will abide by WTO rules and carry out its accession commitments while enjoy its rights on the basis of a balance between rights and obligations," he said.

"China will play a positive and constructive role in the multilateral trading system, and make contributions to the development of the world economy and trade together with other WTO members," he added.

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