May 2001 News

Lithuania Joins WTO

On May 31, Lithuania became the 141st member of the World Trade Organization. Lithuania’s accession to the organization was approved by the General Council on December 12, 2000

View WTO news report

Saudi Arabia Reduces Most Tariffs to Five Percent, Opens Telecom Sector

Effective May 29, Saudi Arabia reduced tariffs on 97% of its imports to 5%. Rates on the remaining imports will range from 20 to 100%. This sweeping tariff reduction is part of the SAG's economic-reform effort and is intended to boost economic growth, generate jobs, benefit the consumer and attract investors. The SAG also adopted new regulations for the telecommunications sector, establishing a regulator to issue licenses to telecom companies and set rates. Although the details must be confirmed, the new regulations appear to hold the door open to foreign investment in the telecom sector.

U.S. Trade and Investment Policy Toward Sub-Saharan Africa, Implementation of African Growth and Opportunity Act

In the first report to Congress regarding implementation of the African Growth and Opportunity Act (AGOA), the President notes that AGOA is expected "to promote diversification of U.S. exports to and imports from the region," in addition to supporting efforts to increase trade and investment flows. While only limited data are available, preliminary statistics, anecdotal evidence and reports from various governments indicate that in many countries the AGOA has generated a strong trade and investment response. This has included new U.S., African, and other investments in manufacturing facilities as well as numerous expansions and rehabilitation of existing factories. U.S. industry has reported new sourcing contracts with African suppliers and inquiries from African firms seeking joint ventures or U.S. expertise and inputs. As trade and investment flows increase, so should U.S. exports, the report states. Exports to the AGOA group in 2000 were $5.3 billion, or 90% of U.S. exports to sub-Saharan Africa. Download the U.S. Trade and Investment Policy Toward Sub-Saharan Africa, Implementation of African Growth and Opportunity Act: DOC (893KB) - (no longer available) PDF (312KB) - (no longer available)

Slovakia Joins OECD

The Slovak Republic became the most recent country to join the OECD following a decade of progress and reform through the OECD's Partners in Transition Program. Other OECD Member graduates include the Czech Republic, Hungary and Poland. While the Slovak Republic was an early signatory of the antibribery convention, its accession means that it must now comply with the OECD's Declaration on Investment. The Declaration helps to ensure that foreign investment is protected and encourages multinational corporations to engage in good corporate practices through the Guidelines for Multinational Enterprises View the Ministerial Declaration (no longer available)

Mexico: Proposed Standards (May 7-18, 2001)

View recently proposed and enacted Mexican Government standards

WTO: Moore Hails Spirit of Co-operation Among Ministers

On May 18, WTO Director-General Mike Moore praised efforts by ministers meeting in various forums to narrow their differences and work toward ensuring a successful outcome to the WTO Ministerial Conference in Doha, Qatar, in November.

View the WTO press release

OECD Ministers Commit to Launch New WTO Round

The Bush Administration secured a commitment by OECD Ministers to agree to launch of a new global round of multilateral trade negotiations at the WTO Ministerial Conference in Doha in November. Ministers agreed to engage constructively with all countries within the WTO to this end. The Ministers also noted that progress is being made in the "built-in agenda" negotiations on services and agriculture. View Ministerial Declaration (no longer available)

U.S. Contribution to WTO Technical Assistance Fund

The United States will contribute $1 million to the WTO to help finance technical assistance activities to benefit developing countries, U.S. Trade Representative Zoellick announced May 15. This contribution will help developing countries to meet their Uruguay Round commitments and participate more fully in the international trading system.

View the USTR press release

U.S.: No Denial of Opportunities for Government-Funded Airport Construction Projects

USTR has determined not to include any countries on the list of countries that deny fair- market opportunities for U.S. products, supplies, or bidders in foreign government-funded airport construction projects.

View the Federal Register notice HTML

View the Federal Register notice PDF

Bush Administration Offers 2001 International Trade Agenda

On May 10, the Bush Administration unveiled its 2001 trade agenda, including a framework for U.S. Trade Promotion Authority. USTR Zoellick emphasized that the trade principles are the product of an extensive outreach effort by the Administration designed to build as broad a coalition as possible behind free trade. View letter from President George W. Bush (no longer available) View The President’s 2001 International Trade Legislative Agenda (no longer available) View Labor and Environmental Toolbox (no longer available) View Fact Sheet on Trade Promotion Authority (TPA) (no longer available) View FAQs (no longer available) View USTR press release (no longer available)

New Zealand: OECD Anti-Bribery Implementing Legislation Enters Into Force

New Zealand's legislation to implement its commitments under the OECD Anti-Bribery Convention, the Crimes (Bribery of Foreign Public Officials) Amendment Act, was approved by parliament and received royal assent on May 2, 2001. The legislation entered into force on May 3, 2001, and the government expects to deposit its instrument of ratification with the OECD Secretariat by late June 2001. New Zealand has asked that its legislation be reviewed by the OECD Working Group on Bribery at the June plenary.

Moldova: WTO General Council Approves Accession

The WTO General Council, on 8 May 2001, approved the accession package of Moldova to the WTO. Director-General Mike Moore said WTO membership “will boost growth and investment and benefit all Moldovans”.

Read the WTO Press Release (off site link)

WTO Releases Latest Study-- “Market Access: Unfinished Business”

The WTO reports that world trade has been liberalized considerably as a result of the Uruguay Round. A new WTO Secretariat study, “Market Access: Unfinished Business” (offsite link) (see Special Study No. 6 ), reports that significant trade barriers still remain, however, including areas of interest to developing countries.

View the WTO press release

Mexico: Proposed Standards (April 23 to May 4, 2001)

View recently proposed and enacted Mexican Government standards

Request for Public Comment: Rules of Origin in the FTAA, FTA's with Chile and Singapore

The interagency Trade Policy Staff Committee (TPSC) is seeking public comment by May 25, 2001, as part of its efforts to develop product-specific rules of origin for the Free Trade Area of the Americas (FTAA), the U.S.-Chile Free Trade Agreement (Chile FTA), and the U.S.-Singapore Free Trade Agreement (Singapore FTA). The United States is seeking rules of origin in these agreements which will ensure that only goods produced in the territories of the parties to those Agreements qualify for preferential tariff treatment, and that these rules of origin are transparent, administrable, and trade facilitative.

View the FR notice

Commerce Secretary Evans Publicizes DOC Small Business-Assistance Efforts

As a featured guest on the Small Business Survival Committee’s (SBSC) website feature: “ The Bottom Line, Small Business Q&A,” Commerce Secretary Evans emphasizes the importance of the United States’ small business and entrepreneurial sector. He also provides an overview of Commerce Department offices (including the Trade Compliance Center) and programs established to assist small firms, “Helping Small Business From Start to Finish.”

View PR News Wire story