THURSDAY, JULY 7, 1994
19
ADVANTAGE IN CHINA REJOINING THE GATT: D-G OF TRADE
THE DIRECTOR-GENERAL OF TRADE, MR TONY MILLER, TODAY (THURSDAY) GENERAL AGREEMENT WARMLY SUPPORTED CHINA'S APPLICATION TO REJOIN THE ON TARIFFS AND TRADE (GATT) THE MULTILATERAL TRADING SYSTEM TO BE SUBSUMED IN THE WORLD TRADE ORGANISATION (WTO).
SHORTLY
OF THE HONG ADDRESSING A LUNCHEON MEETING
KONG SOCIETY OF MR MILLER POINTED OUT ACCOUNTANTS MANAGEMENT ACCOUNTING COMMITTEE,
FOR PARTICULARLY THAT IT WAS OBVIOUSLY BETTER FOR ALL,
HONG KONG, THAT CHINA BE A MEMBER OF THE GATT/WTO.
HUNG IN THE
HE TOLD THE MEETING: "YOU HAVE SEEN THE UNCERTAINTY WHICH OVER US WHILE CHINA'S MOST FAVOURED NATIONS (MFN) STATUS HUNG BALANCE IN THE UNITED STATES.
OF
EUROPEAN "MORE RECENTLY YOU HAVE SEEN THE
UNION'S IMPOSITION OF QUOTAS ON A WHOLE RANGE OF CHINESE GOODS, AND A SEPARATE THREAT U.S. ACTION UNDER SECTION 301, HE ADDED.
**
"IT WOULD CLEARLY BE MORE
CERTAINTY FOR BUSINESSMEN
-
REASSURING
GREATER
AND ANY OTHER RULES OF THE то SUBJECT
AND PROVIDE IF DISPUTES BETWEEN CHINA
WITHIN HANDLED
THE OF OUR TRADING PARTNERS COULD BE
WAY, TRANSPARENT
RATHER THAN BE GATT, IN AN OPEN AND ARBITRARY ACTION BY ONE OR OTHER PARTY. "
←
OF
DISPUTE RESOLUTION IN HIS TALK ON "TRADE FLOWS AND FRICTIONS
MR ECONOMY "
MILLER SPOKE
THE BENEFITS OF GLOBALISED MULTILATERALISM IN WORLD TRADE AND THE DANGERS OF UNILATERAL ACTION.
IN A
·
HE SAID AS THE URUGUAY ROUND OF GATT TALKS
TOO OFTEN BEEN PLAGUED BY WORLD TRADE HAD ALL THREATS OF UNILATERAL ACTION.
SLOWLY PROGRESSED,
CONFRONTATION
AND
THE
THERE ROUND,
THIS
THE
SPIRIT
OF
WERE MANY, UNILATERALISM AND A GENUINE
"IN THE EUPHORIA OF CONCLUDING INCLUDING MYSELF, WHO HOPED FOR AN END TO COMMITMENT
THE MULTILATERALISM," HE SAID.
TO BOTH
LETTER AND
"SUCH COMMITMENT IS ENORMOUSLY IMPORTANT.
BE POSSIBLE,
TRADE DISPUTES
ARE
BUT IT SHOULD INEVITABLE,
GIVEN SUFFICIENT POLITICAL THEM RESOLVE ON THE PART OF ALL PLAYERS BOTH BIG AND SMALL, TO SETTLE WITHIN, AND NOT WITHOUT THE GATT.
AND THE SECURED."
OF
THE
FUTURE
"ULTIMATELY, IT IS ONLY THROUGH SUCH RESOLVE THAT THE
STATURE
STRENGTH
WORLD
TRADE
ORGANISATION
CAN
BE
IN THE DISCIPLINES
WAS MORE THAN MERE SYMBOLISM MR MILLER SAID THERE CREATION OF THE NEW WTO WHICH WOULD SEE TIGHTER RULES AND AND A MORE EFFECTIVE DISPUTE SETTLEMENT SYSTEM.
BEEN
SETTLEMENT
AT PRESENT, ANY GATT CONTRACTING PARTY WHICH FEELS IT HAS
MAY HAVE
ΤΟ RECOURSE UNFAIRLY TREATED
FORMAL
DISPUTE
PROCEDURES.
/"BRIEFLY THESE
Page 20Page 21