Green light given to China’s accession to WTO
Officials involved in last week’s talks on China’s accession to the World Trade Organisation in Geneva emerged saying that they were extremely satisfied with the progress made, but that the final decision will still have to be made in November at a WTO ministerial conference in Doha, Qatar.
According to a timetable worked out by the Geneva working party, China will most likely join the WTO early next year, once its accession has been given the green light by ministers in Doha and the Chinese National People’s Congress has itself ratified the protocols attached to the membership documentation.
In the meantime, the US and EU have said they will concentrate on resolving a number of sticking points including foreign equity limitations on insurance companies that set up branches and sub-branches in China. The issue was prompted by a leading American business organisation, American International Corporation, which has a wholly-owned subsidiary in Shanghai.
