. /.  RESTRICTED  WORLD TRADE  
ORGANIZATION  WT/BOP/R/84 
26 October 2006 
 (06-5155) 
Committee on Balance-of-Payments Restrictions  
  
 
NOTE ON THE MEETING OF 23 OCTOBER 2006 
 
1. The Committee on Balance-of-Payments Restrictions met on 23 October 2006 under the 
Chairmanship of Mr. Takehiro Kagawa (Japan).  The Committee adopted  the agenda as contained in 
WTO/AIR/2908.  
A. TRANSITIONAL REVIEW MECHANISM (TRM)  PURSUANT TO PARAGRAPH  18 OF THE 
PROTOCOL OF ACCESSION OF THE PEOPLE 'S REPUBLIC OF CHINA TO THE WORLD TRADE 
ORGANIZATION  
2. The Chairman  said that at the present meeting the Committee would be conducting the fifth 
annual review under China's Transitional Review  Mechanism, and he invited comments from 
delegations. 
3. The representative of China  said that in view of its balance-of-payments situation, it had no 
comments.   
4. The representative of Nigeria  said that his delegation wished to commend China on the 
progress made so far despite the challenges faced in the process of accession to the WTO.  Nigeria 
had observed that since China became a Member of  the WTO in December 2001, it had been an 
active participant in the multilateral trading syst em.  The People's Republic of China had also 
remained committed to its programme of economic liberalization, including major trade and trade-
related reforms.  Indeed, the reform process had ne cessitated some of those changes in China's trade 
and investment policy framework which had today acco rded it the status of a market economy.  These 
efforts, therefore, deserved commendation and further encouragement from Members. 
5. His delegation noted that the purpose of Para graph 18 of the Protocol of Accession of the 
People's Republic of China to the WTO, was to enable China to enjoy the same rights as those 
accorded to other developing-country WTO Member s as provided in GATT Article XVIII:13 and the 
BOP Understanding.  China, therefore, had exerci sed significant responsibility by partaking in these 
transitional reviews.  Nigeria looked forward to the fina l review in year 2010 or at an earlier date to be 
decided by the General Council. 
6. On this occasion, Nigeria called on all WTO Me mbers to look at the sequence of events, 
responses and compliance of China to its WT O commitments despite some obvious critical 
circumstances. In this regard, his delegation wi shed to express its support and encouragement to 
China for its continuing efforts to  fulfil its oblig ations as well as implement its commitments in a 
gradual process like other  developing-country Members of the WTO. 
7. The Committee took note  of the statements. 
8. The report of the Chairperson to the Genera l Council is contained in WT/BOP/R/83.  WT/BOP/R/84 
Page 2  
 
  B. A
NNUAL REPORT (2006)  TO THE GENERAL COUNCIL  
9. The Chairman  said that as a basis for the Committee's consideration of this matter, a draft 
annual report had been circulated in document WT/BOP/W/29.   
10. The Committee adopted  the Annual Report (2006) (WT/BOP/R/85). 
C. OTHER BUSINESS  
11. The Chairman  informed Members that informal consultations held on 22 February 2006 on 
the outstanding implementation issues under Paragraph 12(b) of the Doha Declaration had yielded no 
further progress.   
12. He noted that the Government of Bangladesh woul d be expected to provide a timetable for the 
phasing out of its remaining balance-of-payments re strictions and to consult with the Committee in 
the spring of 2007. 
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