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China Ready to Honor Its Obligations, Next WTO Chief Says
The next World Trade Organization (WTO) director general, Supachai Panitchpakdi, said Tuesday in Singapore that China is ready and willing to take the burden and honor its obligations when it enters the WTO.
Supachai, who will take over the WTO leadership from Mike Moore of New Zealand in September 2002, told a business forum here organized by the BusinessWeek that China will have a hard time in coping with its entry into WTO but its accession to WTO will mean a wider and larger share of market.
He pointed out that regional countries will benefit from China' s entry into WTO with countries in Asia better prepared benefiting the most.
Asked when China will enter the WTO, Supachai said he expects the final date of China's accession will be in the year and it should not be too late in the year because China should be part of the WTO before the Qatar meeting, referring to the WTO ministerial meeting in Qatar on November 9-13.
In his speech, Supachai also appealed for flexibility from the United States, Europe and Japan to jump-start new round of global trade talks.
He stressed that an agenda must be cobbled together as soon as possible, saying "We badly need a round so that we can counter the tide of protectionism and of backsliding."
Supachai is in Singapore as a speaker to deliver a keynote speech to BusinessWeek's 4th Annual Presidents Forum participated by some 250 top corporate decision makers.
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