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  • Aug 27th, 2004
  • Comments Off on China gives assurances on soyabean trade: US
New Chinese regulations will not hinder the country's imports of American soyabeans and other commodities, the Bush administration said on Thursday following a meeting with a Chinese official.

"The assurances provided by the government of China today should help alleviate the concerns of farmers and exporters as they prepare for the fall harvest and shipping season," said Allen Johnson, the top US agriculture trade negotiator.

China is a vast market for US and South American soyabeans. In 2003, the United States shipped almost $2.9 billion worth of soyabeans to China and Hong Kong, making it the largest export crop.

Johnson and US Agriculture Under-secretary J.B. Penn met on Thursday with acting Chinese Ambasssador Lan Lijun about the import regulation dealing with inspection permits that American officials said inhibited soyabean trade.

According to a US government statement, China said the new regulation was intended to extend the validity of quarantine inspection permits to six months from three months "and would not interfere with US exports of soyabeans to China."

Soyabean trade with Brazil and Argentina has been disrupted in recent months because of Chinese concerns about a fungicide called carboxin.

In past years, US soyabean exports have been interrupted by unclear rules pertaining to genetically-modified crops, such as American-grown soyabeans.

Copyright Reuters, 2004


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