The European Union and the WTO Millenium Round: Why we need a new trade round

Resum

Over the past fifty years since GATT now WTO was created, international trade has expanded exponentially. The Uruguay Round provided a massive boost to trade, development and the management of globalisation? How do we respond in practical terms to the challenge of globalisation? We need to move the trading system forwards in further trade liberalisation, rule making, development, and the concerns of civil society. The position of the European Union is explained. It advocates a three year trade round, which is short enough to bring results. In agriculture it is committed to negotiating further improvements in market access as well as reductions in domestic support and export subsidies. The negotiations will be about (he speed and the gradient of the slope. In services there is a need to reduce current imbalance in commitments across countries and service sectors. In industry, further reductions and greater harmonisation of tariffs, and attacking tariff peaks. There should be no exclusions from reduction. There is a need to develop a groundwork of rules to increase transparency and predictability for foreign investors. Competition rules are equally important. The benefits of trade liberalisation can be undercut by anti-competitive practices. Another area of interest is trade facilitation measures to simplify and harmonise import and export documents and procedures. We need to ensure that issues of general public concern are addressed sensibly by the trading system. There is growing concern in parliaments and with the wider public about the relationship between trade rules and environmental rules, shown in recent food scares, hormones in beef and genetically modified organisms. There are also concerns that trade liberalisation is being done at the expense of labour standards. The European Union sees further WTO trade liberalisation and rule making as vital for growth and sustainable development.