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PRESS RELEASE: PRESS/TPRB/279

TRADE POLICY REVIEW:

Continuing the reform agenda would solidify impressive economic performance

Against the backdrop of continued wide-ranging structural reforms as well as sound macroeconomic policies, Australia’s economic performance has been impressive since the last trade policy review in 2002, with annual average GDP growth of 3.2%, according to a WTO Secretariat report on the trade policies and practices of Australia.

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The report notes that trade liberalization, much of it unilateral, has been an integral part of the structural reforms that have contributed to this performance, also stimulated by the global boom in demand for mineral products that accounted for 48.4 % of total merchandise exports in 2005. In addition, the high degree of transparency in the formulation and evaluation of Australia’s economic policies enhances government accountability and public debate over the merits of these policies. Consequently, transparency has contributed greatly to the continued process of reform.

The report also notes the need to press ahead with structural reforms as outlined in the National Reform Agenda, especially those concerning key infrastructure-related services such as electricity, water and transport, in order to raise productivity.

The report, along with a policy statement by the Government of Australia, will be the basis for the fifth Trade Policy Review (TPR) of Australia by the Trade Policy Review Body of the WTO on 5 and 7 March 2007.

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Full list of previous TPRs
  

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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.

  

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

Canada: 21 and 23 March 2007
Macao, China: 30 April and 2 May 2007
Costa Rica: 7 and 9 May 2007

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