EU Tentatively Endorses China’s Entry Into WTO
The European Union supports China’s bid for entry to the World Trade Organization but Beijing needs to make more progress in pulling down trade barriers if it is to qualify, a top EU official said Sunday.
However, Europe was willing to see China win membership of the world trade body with a transitional period to allow it to fulfill the necessary conditions, European Commission Vice President Sir Leon Brittan told a news conference at the end of a six-day visit to China.
“We have always supported China’s membership of the WTO,” he said. “We recognize China cannot accept in one go all the obligations of membership and needs a transitional period.”
Beijing failed to rejoin the WTO’s predecessor, the General Agreement on Tariffs and Trade, before its self-imposed end-1994 deadline mainly because of U.S. and European demands that China do more to create a level playing field and provide greater market access.
“Confining to state-owned monopolies the right to distribute EU goods is something that is holding back the Chinese economy and not protecting,” he said. “And the same applies to high tariffs.”
Brittan said he hopes Beijing will return to the negotiating table as early as next month, adding he believed the issue could be resolved this year.
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