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To: Glen L. Peden who wrote (52220)	12/2/1999 12:11:00 AM
From: Ruffian	Read Replies (1) \| Respond to of 152472

EU Wants China> Wednesday December 1, 11:50 pm Eastern Time China hopes to complete WTO deals early next year By Donna Smith SEATTLE, Dec 1 (Reuters) - China hopes to wrap up a series of trade negotiations with the European Union and other countries in its bid to join the World Trade Organization (WTO) early next year, a top Chinese trade official said on Wednesday. China last month signed a landmark trade agreement with the United States that will clear the way for U.S. support for Beijing's bid to join the global trade body. Vice Minister of Trade Long Yongtu told business leaders that he hoped China could complete agreement with the European Union in December and other WTO members by the end of February. European Trade Commissioner Pascal Lamy and Chinese Foreign Trade Minister Shi Guangsheng met on Wednesday and agreed that talks between the two trade powers on Beijing's WTO bid should resume as soon as possible. EU officials have welcomed the recent agreement between China and the United States, but have said they need further concessions from China in some areas such as financial services and telecommunications. Speaking to business leaders on the sidelines of a meeting of WTO trade ministers in Seattle, Long said China still had to reach agreement with 22 countries before it could join the Geneva-based organization that regulates world trade rules. Long said he met on Wednesday with members of the U.S. Congress also attending the WTO meetings to talk about the U.S. trade agreement with China, which calls for Beijing open markets in agriculture in agriculture, telecommunications, insurance and Internet businesses. ''It's a win, win agreement,'' Long said. ''It is a win for the Chinese people. It is a win for the American people.'' Congress will be asked next year to grant China permanent Normal Trade Relations (NTR) as part of the WTO deal. The coveted status gives China the same low tariff access to U.S. markets as nearly every other country. Currently, China's NTR status is subject to annual renewal and members of Congress often use it to voice complaints about Beijing's human rights records and concerns about nuclear technology transfers. Long said he assured U.S. lawmakers that China would stand by its WTO commitments to open its markets, potentially the world's largest with 1.2 billion people. ''We are very serious about enforcement of the agreement,'' Long told the business meeting sponsored by the U.S. Chamber of Commerce. He said Beijing had ordered its ministries to undertake a comprehensive review of laws and regulations to make sure they are consistent with WTO rules. ''I can assure you the Chinese government is dead serious about that,'' he said. Long declined to comment on the demonstrations against free trade that marred the WTO meeting and delayed the opening of this week's meeting. He said it underscored the need to educate people about the WTO. He said the Beijing government was trying to do just that in preparation for joining the global trade body.