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|Wednesday, November 07, 2001, updated at 16:12(GMT+8)|
China's Entry to the WTO Positive: USCIB PresidentChina's entering into the World Trade Organization (WTO) will play a positive role to both sides noted Thomas M.T. Niles, President of United States Council for International Business (USCIB) during an interview with the journalist.
Thomas M.T. Niles said that after China's entry into the WTO, it would be able to enlarge the economic and trade exchange with other member nations and further improve its position in international trading. He believes that China will keep its promises after entering the Organization. The most important thing here is, he said, China will integrate with international standard by way of perfecting its trade regulations. This will enhance the confidence of foreign enterprises so as to help the Chinese market attract more investment and promote the development of external trading.
Niles thought that the US agricultural and financial service industry would undoubtedly get big commercial opportunities after China enters the WTO and on the other hand China's related industries would be confronted with a temporary impact. However, it is also a very good opportunity for the Chinese enterprises if viewed from another aspect because their competitiveness in the market will be enhanced accordingly. Nevertheless, the anti-dumping problems in the bilateral trade can be settled through the related institutions of the WTO.
Niles welcomes more Chinese companies to invest in the United States.
As a chapter of International Chamber of Commerce in the United States, USCIB has more than 300 member companies, and many such companies as General Motor, Honeywell International Inc. Motorola, Inc., and American International Group, Inc., have already put up their investment projects in China.
By PD Online staff member Du Minghua
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