The third Sino-Europena union business summit to push Beijing's entry into the World Trade Organisation (WTO) opened in Beijing on Monday with Chinese Premier Zhu Rongji assuring foreign investors that China would honour all its obligations for its entry into the world trade body.

Zhu and French President Jacques Chirac, who hold the EU Presidency also, are leading their respective sides to the business dialogue, Xinhua news agency reported.
The summit is taking place in the backdrop of a surprise announcement by Chirac, who said on Friday, that disputes delaying China's accession to the WTO has been resolved
China's WTO entry talks in Geneva is bogged down over how Beijing will implement a series of market access and tariff cut commitments made during its deals with the WTO.
According to EU officials, they are seeking further clarification on China's commitment to open its vast distribution and insurance sectors to foreign competition. The EU accuses china of backtracking on an offer to grant seven licences to European insurers prior to its WTO entry.
Commenting on the significance of the summit, Chinese Foreign Ministry spokesman Zhu Bangzao said, “China hopes that the summit meeting will help push forward constructive bilateral partnership relations with EU.”
Apart from China's WTO membership, the two sides are likely to discuss China's Human Rights policies and the Taiwan issue.

Bureau Report