China's Access to WTO Good News for All: EUTrade Commissioner of the European Union (EU) Pascal Lamy said in Nairobi on Monday that China's forthcoming access to the World Trade Organization (WTO) is not only good news for China, but also that for the European Union and the rest of the world."The terms under which China will enter the WTO are ambitious marketing opening measures, with the sort of structural consequences the Chinese leadership knows that they would have to deliver," said Lamy at a forum on north-south trade relations. After China joins the WTO, market access to China will be much easier and, therefore, it is good news for the European Union and the rest of the world including developing countries or countries like Kenya, he noted. What is more important is that China's entry into the WTO will make the organization a truly international body, considering China's huge population and vast market, he said. The accord on China's entry into the WTO was approved by the formal meeting of the 18th WTO working party on China's accession in Geneva last month, ending China's 15-year membership negotiations and clearing the way for China to join the world trading body within months. Lamy arrived in Nairobi on Sunday and is scheduled to attend the 2nd Joint Ministerial Committee meeting of African, Caribbean and Pacific group and the European Union to be held in Nairobi on Tuesday. Analysts here said that his trip is meant to seek backing for the launch of a new round of WTO negotiations set to take place in Doha, Qatar, from November 9 to 13. |
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