December 17, 1998 (12:15 p.m. EST) No. 295

WTO RELEASES REPORT ON CANADA'S

INTERNATIONAL TRADE POLICIES AND PRACTICES

International Trade Minister Sergio Marchi today welcomed the findings of the World Trade Organization (WTO) Trade Policy Review of Canada, which reported positively on Canada's trade and economic performance and its commitment to a strong multilateral trading system. The results of the review were announced today in Geneva.

"Today's report is more proof that Canada's economy is strong and its industries are adapting to the opportunities in the global marketplace," said Minister Marchi. "I am pleased to see that the report acknowledges the extent to which Canada's trade and investment policies are open and transparent, and recognizes the value we place on a rules-based trading system."

The Trade Policy Review found that Canada's pursuit of an export-oriented strategy combined with "prudent macro-economic policies" has been an important part of Canada's recent strong economic performance.

In addition, the report recognized Canada's work to eliminate export subsidies and reduce domestic agricultural subsidies. It acknowledged Canada's work to further liberalize trade in textiles and clothing, in some instances beyond WTO commitments, and noted Canada's efforts to improve its import rules by simplifying and rationalizing customs tariffs.

"Canada's commitment to global free trade and a rules-based global trading system is clear and proven," said Mr. Marchi. "Our country's success is built on trade. We need a fair and effective system of trade rules between nations so that Canadians can compete on equal terms in foreign markets."

Today's review is the fifth since the Trade Policy Review mechanism was established under the GATT in 1989, and it is the first interim review since the WTO was established in 1995. This interim review focuses on Canada's trade policy from November 1996 to the present. The final report will be published by the WTO in February 1999.

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For further information, media representatives may contact:

Leslie Swartman

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