Moore: China Could Join WTO This YearWorld Trade Organisation Director-General Mike Moore said lately that China could enter the global trade body this year and warned the U.S. Congress against rejecting the Clinton administration's pact with China."Assuming the political will exists, these issues can be resolved and China can enter the WTO this year," Mike Moore, WTO direct-general, said in remarks prepared for delivery at the National Press Club in Washington. Moore said the U.S. Congress risked losing the benefits of the trade agreement hammered out by the Clinton administration if it rejects permanent normal trade relations with China. "I need to tell you that regardless of how the U.S Congress votes on permanent normal trade relations, China could enter the WTO," Moore said. If Congress rejected the trade pact, Moore said, U.S. businesses may not receive the same trade benefits as other WTO members. "(That's) a sobering thought when you consider the potential business opportunities in a market of 1.3 billion people." Permanent normal trade relations for China is virtually assured passage in the U.S. Senate, but faces stiff opposition in the House of Representatives from Democrats who are closely allied with organised labour. They have demanded that China improve labour standards before joining the Geneva-based WTO. The House is expected to vote on the legislation in late May. The Senate is slated to act in the first week of June. Moore also held out little hope for the launch of a new round of global trade negotiations any time soon. "At the moment, I do not see sufficient flexibility among governments -- in either the developing or developed worlds -- to lead me to conclude a round of negotiations beyond these sectors (agriculture and services) is imminent at the moment. But this could change." |
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