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China’s WTO entry: Ficci sees boost in bilateral
trade
Our Corporate Bureau
New Delhi, Dec 13: China's entry into the World Trade
Organisation (WTO) will result in a fair trading environment
for developing countries. China will have to abide by the
rules of WTO and also protect its domestic industry, said
Mr Wang Zhan, chairman, Shanghai WTO Affairs Consultation
Centre, who was addressing an interactive session on “China’s
entry into WTO: Issues and implications”, organised by Federation
of Indian Chambers of Commerce and Industry (Ficci) here on
Thursday.
| China-India
partnership mooted for equitable gains under WTO |
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Express News Service
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| New Delhi: India and China should
cooperate in ensuring fair and equitable gains for the
developing countries, particularly in agriculture, under
new WTO trade negotiations, chairman, Shanghai WTO affairs
consultation centre, Wang Zhan, said today. “We are here
to explore what India and China can do in the new WTO
trade negotiations; how we can protect interests and gains
for the developing countries together,” the visiting Chinese
expert said at an interactive session organised by Ficci
here. Identifying agriculture and anti-dumping duties
as main areas for cooperation, Zhan said both countries
should join hands to amend the rules under WTO pertaining
to anti-dumping. Zhan said China was keen to learn from
the Indian experience on how to protect the interests
of domestic industry under the WTO. |
Mr Zhan said China needs to learn from the experiences of
India as it had paid a high price for entering into WTO.
Referring to the agriculture sector, he said WTO will have
a great impact on the Chinese agriculture sector and China
would like to learn as to how India has been able to protect
its own agriculture sector from any adverse effect of the
WTO commitments.
China and India can contribute a lot in the new round of
trade negotiations and devise ways and means of protecting
the interests of developing countries. He also stressed the
need to enhance bilateral trade between China and India.
Mr Zhan said the coming era will be the era of East as it
is evident from the fact that in the current global economic
slow down, only countries like India, China and Russia are
having a GDP growth rate of around 5 per cent. With the combined
population of two billion, if India and China continue to
grow at this rate, it will immensely contribute to the world
economy.
Ficci president RS Lodha said the exclusion of the world’s
seventh largest exporter and eighth largest importer country
from the WTO framework was an anomaly. China’s membership
marks the major step towards making WTO become a more complete
organisation.
He said China’s entry into WTO would inject fresh impetus
and new vigour to the development of the bilateral trade and
economic cooperation. Once we identify and articulate the
convergence of our views and positions on a range of WTO issues,
both India and China could effectively collaborate to ensure
the balance of forces in the multilateral trading system,
and to safeguard both the country’s legitimate rights and
interests. Both Ficci and Shanghai WTO Affairs Consultation
Centre have agreed to work jointly in the area of WTO, especially
in agriculture. They have agreed to a joint research programme
in this field.
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