The future in China with one U.S. company delayed the agreement. Negotiators working group on accession of China into the World Trade Organization, which recently met in Geneva for a week, will have to meet again the week of Sept. 10 to agree on the status of future branches of the influential American International Group (AIG), a major insurance company in New York. The overall agreement on Beijing’s accession to the WTO is hanging on the resolution of the dispute between Americans, Chinese and Europeans. AIG, which already operates in China, is 100% under U.S. control..

Do not endorse a privilege issue is whether new branches of AIG are a new company or are a simple extension of the seat. They claim the inclusion of a line of agreement specifying that any new branch would be understood as a development of the parent. The European Union opposes. The negotiators felt that the sentence would endorse the privilege enjoyed by AIG and oppose the rule of proven most favored nation, that the advantages offered by a partner apply to everyone.

All are optimistic. Last week, negotiators had put the finishing touches to the reduction schedules fixing the schedule of tariff reductions and market opening of 150 sectors or products. The Chinese have committed to reductions until 2004. The membership agreement could now be signed in September, during the final meeting on the development of texts for membership. Beijing should then be accepted at the WTO ministerial meeting in Doha, Qatar in November.

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