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Friday, December 24, 1999, updated at 08:50(GMT+8)
Business China's Entry into WTO to Bring Huge Foreign Investment in Agriculture

China's huge agricultural market will create unprecedented opportunities for foreign investment in the sector after the country becomes a (WTO) member, said an official with the Ministry of Agriculture.

When China enters the WTO, it will dramatically reduce import tariffs for farm produce and change its trade and foreign currency management systems further to attract foreign investment, said Tang Zhengping, director of the ministry's International Cooperation Department.

The expansion of China's agriculture and rural economy calls for more foreign investment and technology, he told a recent news briefing to announce the Agro-Foodtech Exposition next April in Beijing.

China's grain output is expected to reach 540 million to 560 million tons by 2010. Meat output should increase by 15 million tons, milk 14.4 million tons, and irrigated farmland 56.7 million hectares.

To attain these targets, China needs to introduce advanced agricultural technology, agricultural production material and high- quality seeds.

The improving living standards of the Chinese people have placed higher demands for the quality and packaging of farm produce, Tang said. The Agro-Foodtech Exposition, to be held on April 11 to 14 2000, is jointly sponsored by the Specialized Sub-Council of Agriculture under the China Council for the Promotion of International Trade and a French Expo Company.

Tang believed the Expo will provide excellent opportunities for exchanges and cooperation between Chinese and foreign business people in agricultural and food processing sectors. (Xinhua)

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