Steps Toward WTO Entry
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China has reached agreement on the last major unresolved issues before becoming a member of the World Trade Organization. Here are the formal steps that remain:
Step 1: Three massive documents of accession are prepared, including a schedule of the thousands of tariff and market-opening commitments China has negotiated. The most favorable tariff for each product offered in any negotiation by China becomes the standard for all WTO members. A history of the negotiations is compiled to help WTO members settle any future disputes. A third document sets out exactly how and when China will implement its commitments.
Step 2: The completed paperwork is submitted to the organization’s General Council, which includes all WTO members. A signing ceremony follows. The signing could occur at a General Council meeting in Geneva in October or, more likely, at a WTO ministerial meeting scheduled for November in Doha, Qatar.
Step 3: After signing, China takes the agreement to its parliament, the National People’s Congress, for ratification.
Step 4: Certificate of China’s parliamentary ratification is deposited at the WTO headquarters in Geneva.
Step 5: Thirty days after Step 4, China becomes a member.
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