Chinese official: WTO talks should tackle developing members' needs

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 ◆ Chinese official: WTO talks should tackle developing members' needs

The interests of developing members should be fully considered in the new round of multilateral negotiations of the World Trade Organization (WTO), Chinese Minister of Foreign Trade and Economic Cooperation Shi Guangsheng said Wednesday.

Shi made the remarks while addressing the launching ceremony of the WTO Advanced Training Program in Asia-Pacific held Wednesday at Beijing University, one of China's most prominent universities.

A new round of trade talks began last year, said Shi, adding China was keen to advance the process of trade liberalization in the WTO, while continuing to exchange ideas with developing members, so as to highlight common interests and promote the stability and development of the multilateral trade system.

Called the Development Agenda, the new round of talks demonstrated the hopes of all WTO members that the multilateral trade system would be of positive and practical influence in promoting the economies of developing members, said Shi.

Shi said all WTO members, both developed and developing, should work for the sound progress of the trade talks, while tackling the concerns and interests of the developing members, especially those of the poorest members.

The multilateral trade system has been an important force in boosting the global economy, and all WTO members hope to boost their economies through global trade.

The current round of trade talks launched at the Fourth Ministerial Conference of the WTO in Doha, Qatar, in Sept., 2001, will not only continue the Uruguay round issues, but also embrace other issues like trade and the environment, and e-commerce.

As a developing country, China shared common interests and attitudes on many issues with all other developing countries, said Shi.

Shi said all developing countries, while actively participating in economic globalization and the multilateral trade system, needed to keep control of opened markets and seek a balance between their target and the liberalization process of global trade and investment.

The Fifth WTO Ministerial Conference to be held in Mexico next September will include a mid-term evaluation of the current round of trade talks, and decide whether to involve other topics like trade and competition policies, and trade and investment.

According to the agreement of WTO members, the new round of trade talks will be concluded before January 1, 2005.