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PRESS RELEASE: PRESS/TPRB/278

TRADE POLICY REVIEW:

Improved economic situation, but continued reforms needed

The European Communities’ economic situation has improved following the economic slowdown in 2001-03, mainly driven by private investment and exports. The economic recovery has translated into a decline of unemployment and was accompanied by strong expansion of international trade. Nonetheless, sustained recovery would appear to hinge on continued structural reforms, including further liberalization of services both at the intra-EC level and vis-à-vis third countries, according to the WTO Secretariat report on the trade policies and practices of the European Communities.

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The report also notes that the European Communities is the world’s leading exporter and the second-largest importer of goods, and its economy has continued to support global growth by maintaining its market open, but trade barriers remain in a few but important areas, notably agriculture. Indeed, the report states that despite an increase in the exposure of farmers to world markets due to the implementation of the 2003 Common Agricultural Policy (CAP), further reduction of export subsidies and tariffs on agriculture are needed.

The report, along with a policy statement by the European Communities, will be the basis for the eighth Trade Policy Review (TPR) of the European Communities by the Trade Policy Review Body of the WTO on 26 and 28 February 2007.

The WTO report, along with a policy statement by the Government, will be the basis for the Trade Policy Review (TPR) by the Trade Policy Review Body of the WTO.

The following documents are available in MS Word format.

• Secretariat report
  > Contents and summary observations (12 pages, 93KB)
  > Economic environment (15 pages, 457KB)
  > Trade and investment regimes (24 pages, 315KB)
  > Trade policies and practices by measure (39 pages, 792KB)
  > Trade policies by sector (54 pages, 1009KB)
  > Appendix tables (19 pages, 1137KB)
    
• Government report (21 pages, 211KB)
    

Note  back to top

Trade Policy Reviews are an exercise, mandated in the WTO agreements, in which member countries’ trade and related policies are examined and evaluated at regular intervals. Significant developments that may have an impact on the global trading system are also monitored. For each review, two documents are prepared: a policy statement by the government of the member under review, and a detailed report written independently by the WTO Secretariat. These two documents are then discussed by the WTO’s full membership in the Trade Policy Review Body (TPRB). These documents and the proceedings of the TPRB’s meetings are published shortly afterwards.

Print copies of previous TPR publications are available for sale from the WTO Secretariat, Centre William Rappard, 154 rue de Lausanne, 1211 Genève 21 and through the on-line bookshop.

The TPR publications are also available from our co-publisher Bernan Press, 4611-F Assembly Drive, Lanham, MD 20706-4391, United States.

Schedule of forthcoming reviews  back to top

Australia: 5 and 7 March 2007
Canada: 21 and 23 March 2007
Costa Rica: 7 and 9 May 2007

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