China Calls on EU to Grant it Full Market Economy Status

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Last updated at: (Beijing Time) Friday, October 18, 2002

China Calls on EU to Grant it Full Market Economy Status

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China is strictly carrying out its commitments as a new member of the World Trade Organization (WTO) and is calling on the European Union (EU) to grant it full market economy status in line with WTO rules.

Chinese State Councilor Wu Yi made the remarks here on Thursday during a meeting with European Commissioner for Trade Pascal Lamy.

Wu said with the continuing advancement of the overall Sino-EU partnership, the two economies enjoy great cooperative potential due to their high degree of complementarity.

The advancement of mutually beneficial bilateral cooperation in various fields is not only in the interests of both countries, butis also conducive to world peace, stability and development, said Wu.

She went on to say that Lamy's current visit to China will help further the development of bilateral friendship and cooperation, especially with regard to economic and trade cooperation.

Pointing to the rise in bilateral trade disputes this year, Wu said she hoped the two sides will resolve problems related to bilateral economic and trade relations in an appropriate manner.

During the meeting, she also briefed Lamy on China's economic situation.

Lamy said he hoped that this visit will further promote bilateral cooperation.

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