May 19, 2000--China and European Union signed the bilateral agreement on China’s accession to the World Trade Organization (WTO) on May 19, 2000 at 6:16 p.m. in Beijing.

Chinese Minister of Foreign Trade and Economic Cooperation Shi Guangsheng and EU Trade Commissioner Pascal Lamy signed the agreement on behalf of the respective sides.

Shi said that the agreement gives expression to the spirit of equality and mutual benefit and is in the interest of both sides. With the signing of the agreement, China’s WTO entry has entered the last procedural phase. Lamy said that the signing of the agreement is good for both sides. It is good for China, good for European companies and good for bilateral relations. He noted that the signing coincided with the 25th anniversary of the establishment of diplomatic relations between China and EU.

Chinese President Jiang Zemin received Commissioner Lamy and his EU trade delegation in the evening of May 19 at Zhongnanhai compound.

Jiang extended his congratulations to both sides on reaching this “win-win” agreement. "Our endeavors to join WTO demonstrate that China will open even wider to the outside world, and is fully prepared to promote the economic and trade cooperation with all countries and regions on the basis of equality and equal benefit," Jiang said.

The President said that China will surely be a responsible member of the World Trade Organization and play a constructive role in it once it gains membership. Lamy said that the deal sent an important message to the world that China remains devoted to its reform and opening-up efforts. “EU is willing to strengthen its special friendly and cooperative relationship with China in the political, economic trade and other areas,” he promised.

China is required to reach agreement with the remaining five WTO members, Guatemala, Mexico, Switzerland, Costa Rica and Ecuador, before concluding the bilateral negotiation phase of its WTO entry talks.