Japan hails basic accord on China WTO accession

Japan Policy & Politics, July 9, 2001

TOKYO, July 5 Kyodo

Japan on Thursday welcomed a basic agreement by the World Trade Organization (WTO) on China's accession to the world body as beneficial both to Japan and China.

In a statement issued in Tokyo, Economy, Trade and Industry Minister Takeo Hiranuma said China's WTO membership would help strengthen the world's free trading system.

''Rules of law would be established in trade ties between Japan and China, and that would bring about large benefits to the two countries,'' said Hiranuma, who is on a weeklong Middle East tour.

Hiranuma also said he hopes Beijing's WTO accession would help resolve trade disputes with Japan, including Tokyo's safeguard measure against farm products, in line with international trade rules.

In Geneva on Wednesday, WTO negotiators struck consensus on key terms of Beijing's WTO membership, making it likely the country will join the currently 141-member trade body late this year or early next year.