WASHINGTON - U.S. Trade Representative Robert B. Zoellick hailed today's announcement in Geneva that members of the World Trade Organization (WTO) had completed work on conditions to admit Taiwan into the trade organization. Taiwan is the 13th largest economy in the world and one of America's largest trading partners.
"The United States welcomes the completion of the WTO Working Party on Taiwan after almost nine years of negotiation. This lays the basis for Taiwan's early accession to the WTO," said Ambassador Zoellick. "Taiwan is an economic powerhouse whose membership in the WTO will benefit the United States, Taiwan, and other members of the multilateral trading system."
"Taiwan's WTO accession will help boost the strength of the Asia-Pacific economies, both now and in the future," Zoellick observed.
"Given America's leadership role in the global economy and within the WTO, I'm especially proud of the efforts of our negotiating team, led by Ambassador Jeff Bader, on Taiwan's accession package," Zoellick added.
The People's Republic of China's accession to the WTO was formally approved by a WTO Working Party yesterday.
Taiwan's accession to the WTO is expected to be approved by trade ministers at Doha, Qatar in November. Taiwan will be able to join the WTO after its authorities formally approve the terms of its accession package.