Page 14 - The South China Business Journal
P. 14
South China Business Journal
HIGHLIGHT 2 Statement of the Chair of MCM 2017 on
International Trade, Investment and Climate
Change
(1) The OECD MCM 2017 met on 7-8 June, 2017 under the Chair- uct Market Regulations (PMR) survey and Producer Support
manship of Denmark to discuss how the benefits of globalisation Estimates, respectively; prospects for digital trade; and options
can be more widely shared. During the meeting Ministers dis- to improve international cooperation more generally. This could
cussed international trade, investment and climate change. include work to disaggregate data on the benefits of opening
markets further, with a view to identifying good policy practices
(2) It is the understanding of the Chair of MCM 2017 that there is and to demonstrating how trade can contribute to improved pro-
consensus among OECD Members on the following points: ductivity, growth and inclusiveness.
• The recognition that trade is an engine for economic growth, • The call on the OECD to continue to analyse how the benefits
job creation and welfare, and we confirm the importance of in- of trade can be increased and spread more widely and we also
ternational investment and free flow of capital. encourage it to develop more effective ways of communicating
the benefits of trade and open markets.
• The need to stimulate trade by focusing on reducing trade barri-
ers and costs, without lowering international standards, includ- (3) It is also the understanding of the Chair of MCM 2017 that
ing through trade facilitation and international collaboration. there is near consensus among OECD Members on the following
points:
• The welcoming of the entry into force of the WTO Trade Fa-
cilitation Agreement in February this year and the call for its full • The importance of a strong commitment to rules-based free
implementation. international trade and investment so that firms are able to com-
pete in open markets on a level international playing field in or-
• The call for urgent, collective and effective action in order to der to foster global economic sustainable growth, productivity,
address overcapacity across all affected sectors, including steel, employment and welfare.
aluminium and shipbuilding.
• The importance of ensuring a rules-based, transparent, non-
• The welcoming of the establishment of the Global Forum on discriminatory, open and inclusive multilateral trading system,
Steel Excess Capacity facilitated by the OECD and of members with the WTO at its centre, to ensure a level playing field for
sharing information and co-operating in order to promptly de- trade in goods and services.
liver on its mandate.
• The need to strengthen the WTO negotiation, dispute settle-
• The call for the Forum to deliver the progress report agreed by ment and monitoring functions, and to commit to working to-
G20 leaders in Hangzhou, while looking forward to the upcom- gether to achieve a successful 11th WTO Ministerial Conference
ing G20 Hamburg Summit. that delivers positive outcomes and a path for international
rulemaking on trade and investment issues of importance to the
• The call for the OECD export credit bodies to continue their global economy.
work on good governance guidelines and financial rules for of-
ficial export credits and reiterate our support for the work of the • The acknowledgement that WTO-consistent plurilateral trade
International Working Group on Export Credits. agreements with broad participation can be a useful tool to foster
trade liberalisation.
• The call for the OECD to continue its analysis of: Global Value
Chains (GVCs), supported by the Trade in Value Added (TiVA) • The welcoming of the Information Technology Agreement and
database; trade facilitation measures, supported by updated its recently concluded expansion, highlighting the importance of
Trade Facilitation Indicators (TFIs); services trade, underpinned concluding the Environmental Goods Agreement and the Trade
by the Services Trade Restrictiveness Index (STRI); trade in in Services Agreement in a timely manner.
manufactured and agricultural products, supported by the Prod-
12
HIGHLIGHT 2 Statement of the Chair of MCM 2017 on
International Trade, Investment and Climate
Change
(1) The OECD MCM 2017 met on 7-8 June, 2017 under the Chair- uct Market Regulations (PMR) survey and Producer Support
manship of Denmark to discuss how the benefits of globalisation Estimates, respectively; prospects for digital trade; and options
can be more widely shared. During the meeting Ministers dis- to improve international cooperation more generally. This could
cussed international trade, investment and climate change. include work to disaggregate data on the benefits of opening
markets further, with a view to identifying good policy practices
(2) It is the understanding of the Chair of MCM 2017 that there is and to demonstrating how trade can contribute to improved pro-
consensus among OECD Members on the following points: ductivity, growth and inclusiveness.
• The recognition that trade is an engine for economic growth, • The call on the OECD to continue to analyse how the benefits
job creation and welfare, and we confirm the importance of in- of trade can be increased and spread more widely and we also
ternational investment and free flow of capital. encourage it to develop more effective ways of communicating
the benefits of trade and open markets.
• The need to stimulate trade by focusing on reducing trade barri-
ers and costs, without lowering international standards, includ- (3) It is also the understanding of the Chair of MCM 2017 that
ing through trade facilitation and international collaboration. there is near consensus among OECD Members on the following
points:
• The welcoming of the entry into force of the WTO Trade Fa-
cilitation Agreement in February this year and the call for its full • The importance of a strong commitment to rules-based free
implementation. international trade and investment so that firms are able to com-
pete in open markets on a level international playing field in or-
• The call for urgent, collective and effective action in order to der to foster global economic sustainable growth, productivity,
address overcapacity across all affected sectors, including steel, employment and welfare.
aluminium and shipbuilding.
• The importance of ensuring a rules-based, transparent, non-
• The welcoming of the establishment of the Global Forum on discriminatory, open and inclusive multilateral trading system,
Steel Excess Capacity facilitated by the OECD and of members with the WTO at its centre, to ensure a level playing field for
sharing information and co-operating in order to promptly de- trade in goods and services.
liver on its mandate.
• The need to strengthen the WTO negotiation, dispute settle-
• The call for the Forum to deliver the progress report agreed by ment and monitoring functions, and to commit to working to-
G20 leaders in Hangzhou, while looking forward to the upcom- gether to achieve a successful 11th WTO Ministerial Conference
ing G20 Hamburg Summit. that delivers positive outcomes and a path for international
rulemaking on trade and investment issues of importance to the
• The call for the OECD export credit bodies to continue their global economy.
work on good governance guidelines and financial rules for of-
ficial export credits and reiterate our support for the work of the • The acknowledgement that WTO-consistent plurilateral trade
International Working Group on Export Credits. agreements with broad participation can be a useful tool to foster
trade liberalisation.
• The call for the OECD to continue its analysis of: Global Value
Chains (GVCs), supported by the Trade in Value Added (TiVA) • The welcoming of the Information Technology Agreement and
database; trade facilitation measures, supported by updated its recently concluded expansion, highlighting the importance of
Trade Facilitation Indicators (TFIs); services trade, underpinned concluding the Environmental Goods Agreement and the Trade
by the Services Trade Restrictiveness Index (STRI); trade in in Services Agreement in a timely manner.
manufactured and agricultural products, supported by the Prod-
12
