Taiwan joins World Trade Organization

greenspun.com : LUSENET : Current News - Homefront Preparations : One Thread

http://www.boston.com/dailynews/001/world/After_a_long_wait_Taiwan_joins:.shtml

After a long wait, Taiwan joins the World Trade Organization

By Annie Huang, Associated Press, 1/1/2002 01:10

TAIPEI, Taiwan (AP) With Taiwan formally joining the World Trade Organization on Tuesday, its leaders hoped the diplomatically isolated island could usher in a new era and become a player on the world stage.

''This is a historical moment,'' Premier Chang Chun-hsiung said. ''We expect a significant boost of our international trade status.''

Taiwan became the 144th member of the WTO, which sets rules on international trade, less than a month after rival China joined.

Taiwan has been barred from most international organizations because China considers the self-ruling island part of its territory and not a country on its own right. But Beijing has made exceptions for bodies that deal exclusively with economic issues.

Still, Taiwan's WTO membership was long held up because China insisted that it should join first.

With the WTO accession, Taiwan will ''become more internationalized and thus avoid being marginalized,'' Vice President Annette Lu said.

Taiwan has been eager to raise its international profile, fearing its diplomatic isolation could prompt China to use force and take the island back into its fold. The sides separated amid a civil war in 1949.

To gain WTO membership, Taiwan has reduced tariffs on thousands of farm and industrial products. It will also strengthen protection of international property rights and improve access to its markets for foreign companies.

In his New Year's message, President Chen Shui-bian said Taiwan would promote trade with China and build ''constructive cooperation.''

-- Anonymous, January 01, 2002


Moderation questions? read the FAQ