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Clinton Hails China Trade Deal with Europe
US President Bill Clinton Friday hailed the trade deal between China and the European Union and again urged the US Congress to approve permanent normal trade relations (PNTR) with China.
In a written statement, Clinton said the Chinese-EU agreement " highlights the importance of congressional passage of permanent normal trade relations with China."
"It is now clearer than ever that China will join the World Trade Organization," he said.
"For America to reap the broad benefits of China's historic decision to open its markets and to strengthen the forces of positive change in China, Congress must enact PNTR," he said.
Clinton warned that a vote against PNTR with China "will cost America exports and jobs, cede this massive new market to our competitors in Europe and Japan and embolden those resisting reform in China."
China and the EU signed the bilateral agreement on China's accession to the WTO on May 19 in Beijing.
China is required to reach agreement with the remaining five WTO members, Guatemala, Mexico, Switzerland, Costa Rica and Ecuador, before concluding the bilateral negotiation phase of its WTO entry talks.
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