17 February 1998
WTO denies claims by special interests linking Ruggiero to MAI
In recent days a number of news organizations have run stories containing an erroneous quote linking WTO Director-General Renato Ruggiero with the negotiations for a Multilateral Agreement on Investment which are underway in the Organization for Economic Cooperation and Development.
The OECD is an organization of 29 of the world's most advanced economies. The WTO is an organization of 132 members, 80% of which are developing countries and economies in transition. There is no negotiation currently underway in the WTO which focuses on investment.
On 16 January in London, Mr. Ruggiero gave a speech at Chatham House in which he quoted John Jackson, the highly respected law professor from the University of Michigan. John Jackson has described the multilateral trading system as a 'constitution' for the world economy. At no point in that speech, nor in any other, did Mr. Ruggiero make a reference to the MAI and its role in the global economy.