Thai Prime Minister Thaksin Shinawatra announced Monday that Thailand has chosen to recognize China's status as a full market economy.

Thaksin made the announcement in his meeting with Chinese Premier Wen Jiabao, calling on additional countries to do the same.

Wen expressed thanks and appreciation to the Thai Government.

Just last week, Kyrgyzstan became the fourth country to officially recognize China as a market economy.

The others are New Zealand, Singapore and Malaysia.

Kyrgyzstan President Askar Akayev handed over a written document to Chinese President Hu Jintao in Tashkentto confirm the move.

The two presidents met on the sideline of the summit meeting of the Shanghai Co-operation Organization.

Akayev said China has established a complete market economic system after a quarter century of reforms and opening up to the outside world. He added that the process accelerated after China joined the World Trade Organization (WTO).

Market economy status is a valuable legal and trade appellation with implications on so-called dumping matters, a major issue in the West.

Although China is accepted by the WTO as a market economy in general terms, protocol on China's accession to the world trade organization allows other members to treat China as a non-market economy in dumping and subsidy cases for 15 years after its entry.

(China Daily June 22, 2004)

Your Comment      View All Comments