TAIWAN'S ENTRY INTO WTO TO BE 'CLEAR SAILING': OFFICIAL.

TAIPEI, Jan 1 Asia Pulse - After over a decade of persistence, Taiwan finally became a full member of the World Trade Organization (WTO) today and officials say that although there may be some stormy seas for several economic sectors, for the most part, WTO membership will be clear sailing in the long run for the island.

Individual consumers, in particular, will benefit most from the historic event. Nevertheless, WTO entry will certainly have an adverse impact on certain fields of the domestic economy, including agriculture, traditional industries, the automobile industry and even the information technology industry.

On the eve of the anticipated changes in Taiwan's economic landscape, many local people still presented mixed feelings about the Taiwan's membership in the Geneva-based world trade regulatory body.

In an effort to allay public misgivings and suspicions about the possible negative impacts, Ho Mei-yueh, vice chairwoman of the Council for Economic Planning and Development, said at a seminar that WTO entry will enable Taiwan to trade with more than 140 other countries around the world on an equal footing.

Noting that Taiwan relies heavily on foreign trade, with the total amount of exports and imports exceeding the island's annual gross domestic product (GDP), Ho said WTO entry will help ensure equal trading status and benefits for Taiwan.

"In the past, our major trading partners didn't adopt discriminatory measures against us mainly because they thought that Taiwan would eventually become a WTO member," Ho explained.

After decades of operations, Ho said, the WTO has developed a comprehensive, binding mechanism for regulating international trading practices and resolving trade disputes.