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August 30, 2006 Wednesday Sha'aban 5, 1427





US urges China to open up markets


BEIJING, Aug 29: The top US trade envoy said on Tuesday China should play a greater role in helping to revive stalled global trade talks and do better at opening up its own markets.

Speaking to reporters on the last day of her visit, US Trade Representative Susan Schwab said China is arguably the country with the greatest stake in an open global trading system and has much to lose if the WTO talks fail.

“My purpose here is to encourage China to reflect that in its actions and rhetoric and positions that it takes,” Schwab told reporters.

World Trade Organisation talks under the Doha Round were supposed to dismantle worldwide barriers in agricultural and industrial trade.

Developed countries wanted greater market access to the service sector in developing nations, which in turn demanded rich nations cut their farm tariffs and subsidies so they can export more agricultural products.

The round, however, was suspended last month when the US and the EU failed to compromise on lowering their farm subsidies and tariffs at last-ditch talks in Geneva.

Schwab's two-day visit to China is the last leg of an Asian tour to encourage more countries to actively participate and help break the impasse.—AFP






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