PRESS RELEASE For Immediate Release                                                                     ...............................Contact: Bob Vastine April 25, 2005                                                                       .................................. .............(202) 289-7460 U.S. Private Sector Pushes for China's Leadership in WTO Services Negotiations Beijing, China - A delegation of U.S. services companies, organized by the Coalition of Service Industries (CSI), met today with senior Chinese government officials to discuss China's participation in WTO services negotiations. The delegation is led by Norman Sorensen, CSI Chairman and President of Principal International, and includes executives from leading U.S. financial services companies. At meetings with Chinese government officials including the Ministries of Commerce and Foreign Affairs, the delegation encouraged China to take a leadership role at the WTO commensurate with its increasing economic strength as one of the world's largest trading powers, and a major beneficiary of the WTO rules-based trading system. It is thus in China's interest to fully implement its WTO accession commitments and submit a strong revised services offer by the end of May, as called for by the WTO last July. "China's experience in opening its services sector shows that there are significant benefits for emerging markets from services trade liberalization," Sorensen said. "We urge the Chinese government to submit an improved revised offer, and to encourage other key partners to do the same so that we can keep on track for the Hong Kong Ministerial and a successful services negotiation." Progress in the services negotiations is an essential element in a balanced WTO Doha package that also must include substantial liberalization in the agricultural, industrial and other areas. Thus far progress in services has lagged behind that of agriculture and goods. Many developing countries have yet to submit initial services offers, and many WTO members submitted offers that are not sufficiently ambitious. It is important that revised offers due in May capture existing levels of liberalization and contain substantive new liberalization as well. # # # # #