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| China Advocated: Working out and Perfection of WTO rules should Promote an open Global Trading System |
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| 2003-11-25 16:03 |
Fu Ziying, Assistant Minister of Commerce, pointed out in Shanghai on 19th Nov. that with development of economic globalization and world resource allocation, WTO rules should be able to promote an open global trading system, to safeguard free trade and investment and concerted development of cargo trade and service trade.
Fu Ziying gave the above comment at the Seminar of “Legal issues in WTO Doha Round Negotiation”, and stressed that in the last 2 years after China's entry into WTO, Chinese government strictly complied with the WTO rules to revise laws and regulations, to expand open area and to be earnest to fulfill commitments. As a new member of WTO, China was advancing step by step in free trade in both goods and services. Service trade was further opened to the outside world, protection of intellectual property right was further enhanced and trade policies became more transparent.
For concerns of foreign trade issues after China's accession to WTO. Fu Ziying said that some WTO members just paid attention to the high-speed increase in exports, not in the bigger import growth, and downed trade srplus, not the increase in imports of material and services that used in manufacture. Meanwhile, he emphasized that the traditional practice of using origin criterion to balance trade was not in with the current international economic and trade development any more. That was an issue urgently need to be clarified and solved in formulating WTO rules.
According to Customs statistics, in Jan. through Oct. 2003, growth in imports was 7.6% higher than that in exports in China, trade surplus amounted to US$14.8 billion. It was predicted that the trade surplus in the whole year of 2003 would be around US$20 billion, so far lower than that in 2002 (US$30.4 billion). Indicators showed that the China capacity to balance trade was enhancing and that China was earnest to fulfill its WTO promise: China would take measures to stimulate increase in imports by reducing tariff.
Fu Ziying said, WTO was a multilateral trading system based on rules and required all its members to abide by the rules, especially to establish and perfect WTO dispute settlement mechanism that was based on rules, not on politics and diplomacy. Some current WTO rules was ambiguous and contradicted to each other. So, it was of much importance to revise and perfect the prevailing WTO rules, which was also the main task fin Doha agenda. “Legal issues in WTO Doha Round Negotiation” was lasted for 3 days and co-sponsored by Ministry of Commerce, Asian Development Bank and Shanghai Municipal government, aiming at promoting Chinese government and enterprises to understand WTO regulations and frame and law issues on Doha agenda, helping the world to know about China's fulfillment of WTO promise. The theme of the Seminar covered issues of dispute settlement mechanism, agriculture, anti-dumping, intellectual property right, safeguard measures, service trade, investment measures, technical barriers to trade and rules of origin etc.
(Information by Network Center of MOFCOM)
(News source: English Website of Ministry of Commerce)
(All information published in this website is authentic in Chinese. English is provided for reference only. )
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