Canadian Manufacturers & Exporters (CME) and the Canadian Chamber of Commerce (CCC) have joined forces with over 20 international business organizations urging the World Trade Organization (WTO) to pursue substantial progress on trade liberalization at the upcoming WTO Ministerial meeting in Hong Kong. The highlights of the Hong Kong Joint Declaration are as follows:
  • The final agricultural agreement should substantially improve market access and lead to the elimination of all types of trade distorting subsidies in all countries in a coherent and progressive manner.
  • All WTO members need to contribute to agricultural liberalization, although the poorest countries should be given more flexibility.
  • New market access must be provided by reducing or eliminating tariffs.
  • Governments must also engage more thoroughly on the issue of non- tariff barriers with the aim of effectively removing these hindrances to international trade.
  • Services must be substantially liberalized while respecting the right of WTO members to regulate in a non-discriminatory manner.
  • All WTO members must pursue far-reaching negotiations on a reviewable trade facilitation agreement which aims to reduce trade transaction costs while improving the transparency and automation of procedures.
  • The implementation of the multilateral rules governing anti- dumping/anti-subsidy and regional trading arrangements needs to be interpreted in a similar way by all countries to establish a level playing field. An acceptable compromise on this issue that seeks to achieve reductions in dumping and subsidization by all parties should be agreed.

The CCC and CME are committed to making the Hong Kong Ministerial, December 13- 18, 2005, a success and both organizations will be present at the meetings to support the Canadian government in achieving the best possible outcome for Canada. (Market News Publishing Inc.)