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Ministry: China supports WTO's trade policy review
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16:01, February 18, 2009

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China expressed its "deep concern" over protectionist policies adopted by some countries and will support WTO's view on its members' new trade policies in their plans of coping with the global financial crisis. Yao Jian, the spokesman of Ministry of Commerce made those remarks at a press conference on February 16. He added that China had also noticed frequent trade investigations against Chinese products, in particular by some developing countries.

On February 9, 2009, WTO Director-General Pascal Lamy, in his report on recent trade developments associated with the financial crisis at an informal meeting of the Trade Policy Review Body, warned that, with trade growth already stalled, "the fragile economic prospects of every WTO Member have become especially vulnerable to the introduction of any new measure that closes off market access or distorts competition… This is particularly the case for developing countries."

A revised report will be submitted in Mid-March, according to the WTO.

Yao said China would participate into the review actively. He reiterated China's opposition against "any form of trade protectionism" and support cooperation and consultation in solving disputes in international trade. "We believe protectionism would make the serious economic situation under financial crisis even more difficult," he said.

Yao also said that MOC has established bilateral trade remedy cooperation mechanisms with 11 countries and regions, including the U.S., EU, Australia, ROK. In 2008, China successfully solved 11 trade disputes through consultations and negotiations, including the case of zinc coating plates, which was the biggest anti-dumping investigation against China launched by EU since 1979, involving 1.2 billion USD and some 100,000 jobs in China.

According to Yao, China has also raised the issue of inappropriate trade measures on Chinese products recently adopted by some developing countries. India launched 17 trade investigations against Chinese products in 2008 and five in January 2009.

The Ministry of Commerce will also encourage dialogues between Chinese guilds and their foreign counterparts, Yao said.

By People's Daily Online



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