Successful Accession to the WTO Sample Clauses

Successful Accession to the WTO. When negotiations did not conclude in 1995, the PRC submitted an application for accession to the WTO under Article XII and requested the conversion of “the existing Working Party to the Working Party on China’s Accession to WTO.” It took 18 more meetings over the next six years (2 in 1996, 4 in 1997, 2 in 1998, 6 in 2000 and 4 in 2001) to conclude the Working Party process, with the intensity of the process picking up following bilateral agreements with the United States (11/15/1999) and the EU (5/19/2000). With the Working Party having concluded its activities on September 17, 2001, the package of documents generated were forwarded for consideration by the WTO’s 4th Ministerial Conference in Doha, Qatar in November 2001. By consensus, the Ministerial Conference approved the text of the agreement governing China’s accession to the WTO on November 10. China signed the document the following day and submitted its notification that the PRC had completed domestic ratification of its accession package immediately thereafter. Thirty days later on December 11, 2001, China became the 143rd member of the World Trade Organization. The accession of China to the WTO is an important event both for existing WTO members and for China. Membership brings many rights and carries wide-ranging obligations. Because of the size and growth of the Chinese economy over the last two decades and the structure of the Chinese economic system, the process of accession has been complicated, has extended over 15 years and requires significant additional changes in the Chinese economic system in the future.
Sample 1
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Related to Successful Accession to the WTO

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  • Billing, Payment, Milestones and Financial Security

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