WTO framework agreement "not bad," says Chinese ambassador

The framework agreement reached by the 147 members of the World Trade Organization (WTO) on reviving the deadlocked Doha Round of global trade talks "is not bad," Chinese Ambassador to the WTO, Sun Zhenyu, said Sunday in Geneva.

"Generally speaking, the framework (agreement) is not bad, although developing members are not fully satisfied," said Sun.

During the negotiations on the framework, developing members have both losses and gains, but the result is a little better than expected, he said.

Developed nations promised to finalize a date to scrap their export subsidies, and to reduce by 20 percent of all types of trade-distorting domestic support in the first year of the framework agreement, he said, adding that it is a "victory" for developing members.

Sun also said China, which joined the WTO in 2001, played "a positive and constructive role" in pushing forward the negotiations, adding that China successfully safeguarded the interests of both itself and other developing members.

China also contributed to the unity among developing members by working closely with other members and showing flexibility in talks on non-agricultural market access and trade facilitation, he added.

Sun promised that China, as a WTO member, will continue making efforts to strengthen and perfect the multilateral trading system, and to side with other developing members to maintain their common interests.

The framework agreement has laid a solid foundation for the next phase of WTO negotiations, he added.

The WTO members adopted a framework agreement early Sunday to slash rich nations' farm subsidies, open industrial markets and put the Doha Round of free trade talks back on track.

The Doha Round negotiations, initiated in 2001, has been stalled since the collapse of the fifth WTO ministerial conference in Cancun, Mexico in September 2003.

Source: Xinhua