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WTO to review China's trade policy every two years
The World Trade Organization (WTO) said Wednesday that China's trade policy will be reviewed every two years.
"Trade policy reviews of the world's four largest traders are done in every two years, and China is now No. 4," a senior WTO official told reporters at the organization's headquarters.
Trade policy review is a monitoring mechanism that the WTO usesto ensure transparency of its members' trade policies and practices.
As a new member of the WTO, China has not been examined under this mechanism. The WTO official disclosed that the first review of China's trade policy would be done in April 2006.
According to WTO rules, traders numbered 5 to 20 are reviewed every four years. Canada, which is the former fourth and now fifthlargest trader, has slipped into this category.
The remaining countries are reviewed every six years, with the possibility of a longer interim period for the least-developed countries. Enditem
