China Willing To Lift Some Trade Curbs: Us

US officials said on Wednesday that China has indicated a willingness to drop many of its biggest trade barriers in order to win membership in the World Trade Organisation.

Secretary of Commerce William Daley told reporters he was encouraged by the development, but it was important to see Beijings latest offer to join the global trading body in writing.

Its very encouraging, Daley said. As (US Trade Representative Charlene) Barshefsky said, though, whats written is more important than whats said, so we will wait to see the written word.

A US official said that a series of bilateral dialogues between China and the United States, European Union and Japan on Beijings bid to join the World Trade Organisation have been very constructive.

 

Another round of discussions have been scheduled for the first week in March in Geneva and the US official said they expect to see Beijings latest offer in writing at that time.

A Chinese trade official said he hoped to see progress in the upcoming talks.

We always hope for progress in such meetings, an official of the international department of the Ministry of Foreign Trade and Economic Cooperation told Reuters in Beijing.

But Chinas entry will hinge on WTO members, he said. We have already presented what we can offer to members and it is up to them to decide.

Last April, China slashed its average import tariff to 23 per cent from 35 per cent, the biggest single cut the country has implemented. Beijing says it plans more such reductions.

China has been seeking to join the world trade body on the easier terms offered developing countries. But the United States and other western nations say the Chinese economy is too big and that giving it preferential treatment would distort the global trading system.

US businesses, looking at the huge market potential of Chinas 1.2 billion population, were anxious to see it join the global trading forum.

A US official said Washington needs commitments from Beijing in three areas.

He said China needs to ensure that it will adhere to global trading practices and grant national treatment to foreign firms doing business there.

The United States also wants a market access package that eliminates trade barriers that are not consistent with World Trade Organisation rules.

The official said that Washington recognises that some barriers would need to be reduced over time.

Washington also needs to be sure that any access agreement includes safeguards and trade remedies that would be available if Beijing does not meet the terms of the agreement, the official said.