Yugoslavia. Romania. and Hungary. Under the terms of the Trade Act of 1974. restoration of mostfavorednation status to Communist countries is contingent upon negotiation of a bilateral agreement of friendship and commerce and the abolition of the Communist nations restrictive and arbitrary emigration policies. China has met both these requirements. In May 1979. Secretary Kreps initialed a bilateral commercial agreement with China. This agreement contains safeguards against market disruption. agreements for the settlement of commercial disputes. provisions for bilateral consultations. and protection of the individual property rights of U.S. nationals. On January 10. 1980. after lengthy deliberations. the Senate Finance Committee voted to accept diplomatic assurances from the Chinese regarding future PRC emigration policies and recommend the extension of mostfavorednation status to China. Over and above Chinas compliance with the technical requirements for mostfavorednation status. Senate Concurrent Resolution 47 merits approval because it is in our national interest.
Keywords matched
emigration