3:13 PM May 18, 1995

WORLD TRADE ORGANIZATION (WTO) IS TO RESUME IN SECOND HALF OF JULY

 

The talks were resumed last week, and after an initial informal meeting where China was seen by its main protagonists as adopting a conciliatory tone, has largely been used in informal bilaterals.

After another meeting to wind up this round of the bilaterals and working party meeting, Girard said there had been limited progress and signs of more flexibility, but more remained to be done.

Further bilaterals are expected in June, and a working party meeting in the second half of July.

The chief negotiator for the Chinese side, Long Yongtu, said that he was now "very cautiously optimistic" and he did not see any "insurmountable difficulties" if everyone proceeded further from a practical point of view.

However, Yongtu made clear, there were some big differences and he did not find sufficient flexibility on the part of some contracting parties in some areas.

US sources said that the discussions this time had resulted in a more serious exchange on issues and that the US discussions with China were focused on market access, goods, services and agriculture. Financial services was one important area to be resolved.

The Chinese are seen by the US sources as having moved some way to appreciate concerns of the WTO members, but that it needs to do more.

The US, along with EU, Japan and Canada are arguing that China, given its weight in world trade, its rapidly growing economy and vast labour force would have to provide better market opening opportunities, and apply the international trade rules faster than developing countries.