Taiwan must effectively implement its market opening commitments now that all the hurdles to entering the WTO have been cleared, the European Chamber of Commerce Taipei said yesterday.
"During the 12 months after the accession of Taiwan into the WTO, it will be a major part of our work to monitor the implementation," said Paul Zeven, ECCT vice chairman, who spoke to reporters upon the release of the chamber's 2001-2002 Position Papers.
"The strength of any agreement lies in its implementation ... that will be key and indicative of how things will go in the future," he said. China and Taiwan's applications to join the WTO were accepted just over a week ago and they are expected to formally become members in mid-December and early next year, respectively.
Over two-thirds of tariff reduc-tions on industrial products will be completed upon accession -- with Taiwan bringing down average tarriffs on industrial goods to 4.15 percent -- while all of the remaining commitments should be achieved by 2004. According to the European Commission, Taiwan's commitments to open services such as financial, telecommunication, professional, advertising and construction sector are among the 10 most expansive in the WTO.
To make sure Taiwan makes good on its word, the European Commission has asked the ECCT to monitor the implementation of WTO commitments, including related laws and regulations, according to the organization's magazine Euroview.
This task will be undertaken until the European Commission establishes a representative office in Taipei, which the EU says is its seventh most important supplier and the 17th biggest export market for EU goods.
The inclusion of Taiwan into the rules-based WTO will likely add teeth to the suggestions statediin the position papers, as the European Commission will be able to utilize the dispute resolution mechanisms of the organization to address any trade or market-related problems.
According to Theo Stiftl, chief executive of the ECCT, the EC has previously acted on suggestions from the European chamber and helped guide bilateral negotiations between Taipei and Brussels on WTO entry.
"The European Commission has gone in to bat for us and that has been very useful," Stiftl said.
Some of the issues brought up in the position papers include greater transparency -- both in doing business and legislation -- in the banking sector, deteriorating industry-government cooperation in the pharmaceutical sector, sluggish handling of IPR cases and easing visa restrictions on foreign and Chinese workers.
Zeven will lead a delegation of ECCT members to Brussels next week, where they will present the position paper to EU trade commissioner Pascal Lamy and meet with EU parliamentarians.
The trip, known as the "open door mission," may also include a meeting with firey former Hong Kong governor and External Relations Commissioner for the EC Chris Patten.
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