SEE ALSO:
press releases
WTO news
Mike Moore's speeches
Renato Ruggiero's speeches,
1995-99 br>
|
This landmark
agreement comes at a critical time. With so much of the world facing economic turbulence,
negotiators from all our members states have shown once again the courage and commitment
to pursue the policies of liberalization which are essential to economic stability, growth
and development. I congratulate them all.Nations representing over 95%
of the trade in banking, insurance, securities and financial information have brought
financial services into the realm of international rules. It is through these
international rules, agreed by all our members, that businesses can best gain the
certainty needed to plan their future international activities.
With this
agreement, the WTO has completed a remarkable year. In 1997, our members agreed on an
historic global pact on telecommunications encompassing more than 95% of the global
telecommunications market; they agreed to remove all tariffs on information technology
products, one of the fastest growing sectors of the global economy; and they agreed,
through the High Level Meeting of Least Developed Countries, on a path which will give
important impetus to the integration of the world's poorest lands into the multilateral
trading system.
These four
events underline the commitment of our member states, both developing and developed, to
the process of trade liberalization and globalization. At a time when many of our citizens
feel uncertain about this fast changing world, this commitment provides the foundation for
our collective welfare.
We will not
rest with these achievements, but will continue to build on them. The commemoration next
year of the 50th anniversary of the multilateral trading system provides us all with the
opportunity to reflect on the great contribution this system has made to peace and
prosperity and to chart our future course in an ever more integrated world. |
|
