Bush Welcomes China, Taiwan WTO Membership
ABCNews.com

Nov. 11, 2001 — NEW YORK (Reuters) - President Bush Sunday welcomed the World Trade Organization's approval of membership for China and Taiwan, saying it would strengthen the global trading system and expand economic growth.

"The decision in Doha -- reached following many years of negotiations -- marks a formal agreement by the 142 members of the WTO on the steps that China and Taiwan must take to open their markets as WTO members,'' Bush said in a written statement.

Taiwan is the world's 14th largest trading economy and had negotiated entry for 12 years. The world's trade ministers approved China's entry Saturday, ending a 15-year quest.

Bush said the United States stood ready ``to work constructively'' with both economies to help them meet the challenges of implementation.

He noted WTO membership meant that China and Taiwan would follow the same trade rules as the United States and other trading partners.

"This, in turn, will generate greater trade and investment that will bring benefits to businesses, consumers and workers in all of our economies,'' he said.

Bush was in New York where he delivered his first address to the U.N. General Assembly Saturday. He also held meetings with foreign leaders aimed at rallying worldwide support for the U.S.-led war on terrorism.

The president marked Veterans Day Sunday and visited the site of the Sept. 11 attack on the World Trade Center.