NEWS RELEASES
CONFERENCE LAYS FOUNDATION FORSTRONGER TRADING SYSTEM
December 13, 1996 No. 247
CONFERENCE LAYS FOUNDATION FOR
STRONGER TRADING SYSTEM
The Honourable Art Eggleton, Minister for International Trade, said in Singapore
today that the first-ever, 128-country ministerial conference of the World Trade
Organization (WTO) has laid a firm foundation for a stronger multilateral trading
system.
"The WTO Ministerial Conference has taken concrete steps toward freer trade in
information technology," said Mr. Eggleton. "It has also given a boost to
concluding negotiations in basic telecommunications and financial services and has
prepared the way for freer trade in other sectors.
"This solid result reflects the faith of both developed and developing nations in
open markets and in a strong, rules-based trading system. It should bring direct
benefits to Canadian exporters and investors by opening more markets abroad. That
contributes to more jobs and growth in Canada."
Canada and other countries, accounting for over 80 per cent of trade in
information technology, reached agreement during the conference on eliminating
tariffs in information technology products. This agreement will become effective
once the number of participating countries accounts for 90 per cent of global
trade in these products, anticipated by January 31, 1997. The agreement is
expected to lead to growth in exports for Canadian firms and more diverse markets.
Reviewing work plans flowing from the Uruguay Round of multilateral trade
negotiations, ministers underlined their resolve to go ahead with agricultural
negotiations in 1999 and on services in 2000. Liberalization in both sectors,
where Canadian companies are world leaders, is a top priority for Canada.
In addition, they agreed to work programs on the link between investment and trade
and on the interaction between trade and competition policy. Canada, Japan and 12
other countries proposed the investment work. Furthermore, the ministers decided
that the WTO should study how to increase openness in government procurement, a
necessary step to reducing the possibility of corruption in foreign government
contracting.
"I am pleased that so many countries have agreed with Canada on the need to begin
work in the WTO on these issues of vital importance to healthy and sustained
economic growth," said Mr. Eggleton.
"I am also delighted that ministers have endorsed my proposal for a conference
early next year on technical assistance to help the least-developed nations
implement their trade commitments. That is key to ensuring they benefit from
liberalized trade."
Mr. Eggleton noted that, for the first time, trade ministers have affirmed their
commitment to observing internationally recognized core labour standards.
Canada has stated that further trade liberalization and promotion of these
standards are mutually reinforcing goals. Core labour standards cover such issues
as freedom of association, the right to collective bargaining, forced labour
including the exploitation of child labour, and non-discrimination in employment.
The ministers were in Singapore to give political guidance to the WTO, to review
implementation of multilateral trade agreements and to chart the ongoing work of
the organization.
"Canada's ultimate goal is a world in which goods, services and investment flow
freely across national borders, under a common set of rules established by
universal agreement," said Mr. Eggleton.
Throughout the week, Mr. Eggleton consulted with colleagues from the Cairns Group
of agricultural exporting countries and supported the issuance of a separate
Cairns Group ministerial statement on agriculture.
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For further information, media representatives may contact
Elaine McArdle
Office of the Minister for International Trade
(613) 992-7332
Media Relations Office
Department of Foreign Affairs and International Trade
(613) 995-1874
This document is also available on the Department's Internet site:
http://www.dfait-maeci.gc.ca
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