News

EUCTP born out of China's WTO entry

(China Daily)
Updated: 2009-11-30 07:46

China's accession to the WTO on December 11, 2001 was a milestone in the country's transition from a centrally planned to a socialist market economy. As part of its WTO accession commitments, China agreed to implement a series of reforms in almost all sectors of its economy. Against this background the European Union and the Chinese government jointly committed 20.6 million euros to the EU-China Trade Project (EUCTP).

In operation since 2004, the EUCTP, recognized as one of the EU's most important trade-related technical assistance projects world-wide, has supported China's continued integration into the world trading system. The EUCTP has provided technical expertise in support of China's policy, legislative and regulatory reform process as required by China's WTO membership commitments.

At the bilateral level the EUCTP has also delivered technical support under EU-China cooperation agreements, and the many trade dialogues and working groups which exist between the EU and the Chinese government.

With an in-house team of trade experts and project managers, and with the support of a strong pool of European and Chinese experts covering all major areas of trade, the project has successfully implemented over 300 technical assistance activities designed primarily to support China-EU win-win objectives in meeting China's WTO commitments. The EUCTP has been in operation during a crucial period of EU-China relations. The most notable landmark was in 2005 when Europe became China's number one trading partner and China became Europe's second-largest trading partner.

EUCTP work has covered a whole range of trade issues. For example, it has supported China's efforts, as required by its WTO entry, to achieve a greater degree of openness and predictability in how it makes and implements laws, regulations and other measures related to trade.

EUCTP expertise has supported efforts in building new mechanisms and channels for public information, public comment and public involvement in rule making.

This work included the drafting of general guidelines at the national level regarding the mechanisms of public comment systems. The current phase of the EU-China Trade Project ends in December 2009 after six years and its success, has laid the groundwork for a new five-year EU-China trade project, due to start in 2010.

(China Daily 11/30/2009 page14)