G7 COMMUNIQUE ON TRADE (NOT ENDORSED BY THE USA)
Submitted by christian on Sun, 06/10/2018 - 12:45
- Acknowledgement that free, fair and mutually beneficial trade and investment, while creating reciprocal benefits are key engines for growth and job creation.
- Underlining the crucial role of a rules-based international trading system and fight against protectionism.
- Bilateral, regional and plurilateral agreements must be open, transparent, inclusive and WTO-consistent, and they should complement the multilateral trade agreements.
- Commitment to modernize the WTO to make it more fair as soon as possible.
- Striving to reduce tariff barriers, non-tariff barriers and subsidies.
- Working together to enforce to enforce existing international rules and develop new rules where needed, to foster a truly level playing field, addressing in particular non-market oriented policies and practices, and inadequate protection of intellectual property rights such as forced technology transfer or cyber enabled theft.
- Calling for the start of negotiations – this year – to develop stronger, international rules on market-distorting industrial subsidies and trade distorting actions by state-owned enterprises.
- Calling on all members of the Global Forum on Steel Excess Capacity to fully and promptly implement its recommendations. Stressing the urgent need to avoid excess capacity in other sectors such as aluminum and high technology.
- Calling on the International Working Group on Export Credits to develop a new set of guidelines for government supported export credits, as soon as possible in 2019.
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