|
Author |
Date and source |
Quotes |
|
|
|
|
Rick Lazio, President, The Financial Services Forum, USA |
9 August 2003 New York Times |
Free trade of agricultural products
isn't the only way to help poor countries - easing their
restrictions on foreign financial services can also help them find
a way out of poverty. The World Bank has compelling evidence
that competition in financial services creates stronger domestic
capital markets in developing nations - more efficient capital
allocation and more access to banks, securities firms and
insurance providers for businesses and individuals are sure ways
to speed economic growth. |
|
Director-General Supachai, World Trade Organization |
20 September 2002 General Assembly of the Swiss Bankers
Association |
"There is no
such thing as a “one-size-fits-all” model for financial reform.
However, the experience has shown that trade liberalization and
domestic reform in the area of financial services can and should
be mutually reinforcing. Adequate prudential regulation and
supervision, enhanced transparency and corporate governance,
strengthened competition policy, proper legal and accounting
systems are all preconditions to benefiting from liberalization." |
| Managing
Director of the European Services Forum, Pascal Kerneis |
22
May 2001
Speech
at an International Conference organised by the Forum of
Environment and Development |
"Direct investment by British and Spanish banks in Mexico has
strengthened the financial system and benefited the country in
the last financial crisis. India has recently approved foreign
investment in the insurance business that will ultimately lower
prices and increase choice and enable people to insure those who
are currently uninsured." |
| Joint
Statement U.S., European and Japanese Service Industries |
10
May 2001
European
Services Forum
Press Release |
"
If
barriers to trade in goods and services were completely
eliminated, world economic welfare would increase an additional
$1.9 trillion, benefiting developed and developing countries
alike. A broader WTO Round should be able to reduce barriers to
trade in goods and services by one-third, which would still add
approximately $613 billion to the world economy." |
| Former
U.S. Trade Representative, Ambassador Charlene Barshefsky |
13
April 2000
Speech at the Graduate School of International Economics and
Finance of Brandeis University
|
" In the WTO we also created a
permanent forum in which governments find new areas of shared
interest and benefit, which we used in the past five years to
reach … agreements of central importance to the 21 st
-century economy…The Financial Services Agreement,
covering nearly $60 trillion in financial transactions – a
figure half again as great as total world GDP -- per year. It
has already helped U.S. services suppliers expand commercial
operations and find new market opportunities both through
ownership of or investment in foreign banking institutions,
brokerage and insurance sectors, and through cross-border
trade." |
| South
Africa President, Nelson
Mandela |
May
1998
Speech
at the Summit to mark the 50th Anniversary of the GATT/WTO
multilateral trading system
|
" We are firmly of the belief that the
existence of the GATT, and now the World Trade Organization, as
a rules-based system provides the foundation on which our
deliberations can build in order to improve[…] As we enter the
new millennium, let us forge a partnership for development
through trade and investment." |
| Joint
Statement from the International Chamber of Commerce and the
Financial Leaders Group |
22
September 1997
International
Chamber of Commerce
News Archives
|
"
The
ICC (International Chamber of Commerce) and the FLG (Financial
Leaders Group) are convinced that the opening up of financial
services will provide a powerful impetus to growth in all
economic sectors[...] Liberalization will be indispensable for
the financial world of the future, considering the heavy
demand for capital in an increasingly global
economy." |
| |
|
|
| |
|
|
| |
|
|
| |
|
|
Home
TRADE RESOURCES
