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Press Releases
BEIJING, September 28, 2000 - The United States Senate cleared
the way for eventual Chinese membership into the World Trade
Organization with approval of Permanent Normal Trade Relations.
"China's inclusion in the WTO means substantial and pathbreaking
opportunities for American companies, workers and farmers."
Frederick W. Smith, chairman of the US-China Business Council
and chairman, president, and CEO of Federal Express Corporation
(FedEx), the world's largest express transportation company,
hailed final senate passage of historic legislation, which
brought to a successful conclusion a long struggle by PNTR
supporters.
"We are delighted that years of effort, including the most
recent ten months of all-out work to make clear to the American
people the central issues in the PNTR discussion, have borne
fruit for our country. With the passage of PNTR in the Senate,
the United States and China enter a new phase of their growing
relationship." Frederick W. Smith has been strongly supporting
China's accession into WTO along with other leaders of U.S.
companies. He considers the passage an "historic victory
for the American economy and world prosperity".
"China's agreement to abide by the standards and requirements
of the community of trading nations, and its detailed commitment
to far-reaching changes in its international trade and investment
environment, mean substantial and pathbreaking opportunities
for American companies, workers, and farmers", added Mr.
Smith, who was elected as Chairman of the U.S.-China Business
Council in June.
FedEx Express Asia-Pacific was also upbeat. "FedEx began
offering service in China in 1984. Over these years, FedEx
has been demonstrating the strong commitment to China for
the long term", said David Cunningham, President, Asia-Pacific
Division.
"In general, FedEx believes that China's entry to WTO will
stimulate growth in the volume of trade flowing in and out
of China. With our own flights to/from destinations in China,
a strong partner (Da Tian Air Service Corporation) in Beijing
and strong operators in other parts of China, FedEx is well-positioned
to handle an increase in import/export transportation volume.
We believe we are in a key position to vigorously promote
the economic growth and trade of China. "
FedEx Express, a US$19 billion subsidiary of FedEx Corp.,
connects areas that generate 90% of the world's gross domestic
product in 24-48 hours with door-to-door, customs-cleared
service and a money-back guarantee. The company's unmatched
air route authorities and infrastructure make it the world's
largest express transportation company, providing fast, reliable
and time-definite transportation of more than 3.3 million
items to 210 countries each working day. FedEx employs approximately
150,000 employees and has more than 34,000 drop-off locations,
650 aircraft and 45,000 vehicles in its integrated global
network. The company maintains electronic connections with
more than 2.0 million customers via FedEx Powership®,
FedEx Ship® and FedEx interNetShip®.
* Certain restrictions apply
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