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China asks EU to obey WTO rules

byCT Report
11/03/2016
in Latest News
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BRUSSELS: China yesterday urged the European Union to obey the rules of the World Trade Organization and stop its unfair treatment of China.

Foreign ministry spokesman Hong Lei made the remarks following comments by EU Trade Minister Cecilia Malmstrom, who said on Wednesday that the EU must maintain solid trade defenses even if the 28-member bloc decides to grant China market economy status.

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China joined the WTO in 2001. The WTO accession protocol means China will automatically transit to a market economy for Europe by December 11, the 15th anniversary of its accession to the body. However, Europe insists this must be debated.

“We’ve heard different opinions on China’s market economy status from the EU recently,” Hong said, noting China had fulfilled its obligations since becoming a member of WTO.

So far, over 80 countries, including Russia, New Zealand, Singapore and Australia, have recognized China’s status as a market economy.

China is now the EU’s second-largest trading partner.

The EU is a vital supporting force to the multilateral trade and international legal systems, Hong said.

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