China said on Thursday that its entry into the World Trade Organization (WTO) will be a "great contribution" to the multilateral trading system and a "strong support" to the new round of global trade talks.

The statement was made by Shi Guangsheng, minister for foreign trade and economic cooperation, at the third ministerial meeting of the World Trade Organization (WTO).

China, which applied for accession to WTO's predecessor, the General Agreement on Tariffs and Trade (GATT) 13 years ago, last month concluded its bilateral talks with the United States, last week with Canada and is now conducting negotiations with other members.

"I can predict that in the near future, China will become a full member of the World Trade Organization," Shi declared.

"After its accession to the WTO, China will fulfill corresponding obligations and abide by the rules of WTO while enjoying its legitimate rights as a WTO member," he added.

Speaking of globalization, one of the major topics for the ministers during the conference,Shi said the process has "obvious defects."

"The Chinese government fully affirms the important part the multilateral trading system has played in the promotion of world economic and trade development over the past five decades," he said.

However, China also believes that WTO's "failure to fully reflect the rights, interests and demands of the developing countries shows how incomplete and unbalanced this organization is."

The ministers from 135 WTO members are meeting here to launch a new round of trade talks, the Millennium Round. China attends the meeting as an observer.

"The time of the launching of a new round of negotiations is also the time when the multilateral trading system has to make choices," Shi said.

"The choice we must make today is whether to allow more countries, including developing countries, to enjoy the opportunities and benefits brought about by the economic globalization, or to widen the gap between rich and poor countries and even to allow some countries to be marginalized," he affirmed.

The choice is also about whether to involve all members in the formulation of international trade rules for the next century "through equal participation and consultation, or to allow a small number of members to dominate and control the process and the result of the negotiations," he said.

After achieving its WTO membership, China will contribute to the success of the new round of trade talks. "China will be a responsible and constructive member in the future multilateral trading system."

Meanwhile, he also put forward five proposals for the new round, stressing that interests of developing countries should be respected.

The ministerial meeting, which opened November 30 and is scheduled to close on Friday, is aimed at launching a new round of trade talks. But sharp differences on the agenda of the round still remain. (Xinhua)