“This week, the WTO demonstrated its value as an institution through several important initiatives. NFTC congratulates WTO members for formally approving Russia’s accession application. We appreciate the hard work of U.S. negotiators to conclude this process and look forward to working with the U.S. Administration and Congress to revoke Jackson-Vanik so that the United States and Russia can take full advantage of the new trading relationship under the WTO. NFTC is also encouraged by agreement on a new government procurement text, and hopes that this successful conclusion of talks will spur other countries to redouble their efforts to subscribe to the GPA.
“Despite these achievements, the WTO stands at an important crossroads following this week’s conference. Countries have acknowledged that the Doha Round stands at an impasse, but the real challenge for negotiators will be to find new pathways to allow progress on meaningful trade liberalization.
“Heading into next year, countries have an opportunity to capture under the WTO framework growing enthusiasm surrounding a range of issues increasingly critical to economic growth and development. Issues from trade facilitation to services commitments to innovation and the digital economy would benefit from the development of new understandings and disciplines under the WTO. Member countries must demonstrate that the WTO is a flexible enough institution to deal with these kinds of critical issues in a timely fashion. We look forward to working with the U.S. Government and negotiators around the world in 2012 to identify pathways to advance and conclude meaningful trade liberalization.”
About the NFTC
Advancing Global Commerce for Nearly A Century- The National Foreign Trade Council (www.nftc.org) is a leading business organization advocating an open, rules-based global trading system. Founded in 1914 by a broad-based group of American companies, the NFTC now serves hundreds of member companies through its offices in Washington and New York.
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