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Conable Issues Statement on GATT Negotiations
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| President Barber Conable issues a statement on the GATT negotiations. "I welcome recent moves to revive the GATT negotiations on trade liberalization. The liberalization of trade has been one of the main motors of world economic growth for more than 40 years...Many developing countries, already struggling with debt burdens, environmental crises and chronic poverty, have made difficult political and economic choices in their efforts to liberalize their trade regimes. Recognizing the potential gains from more open economies, they have demonstrated an increasing commitment to trade liberalization. It is a cruel irony that the industrial countries which dominate world trade have, so far, lacked the political will to conclude the negotiations positively...The trend toward protectionism will increase international tension and diminish prospects for world economic growth. I urge all GATT participants to reach agreement swiftly and decisively. Too much is at stake for the Uruguay Round to be allowed to end inconclusively." World Bank Press Release, December 18, 1990. |
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