Show Leadership in Trade Talks, Business Leaders Urge Federal Government

July 30, 2004

Canada’s business leaders today urged the federal government to show leadership in multilateral trade negotiations now underway in Geneva.

This morning, the Chair of the World Trade Organization (WTO) General Council circulated a revised draft text to all 147 WTO members. The draft text, which sets out a proposed framework for more talks to liberalize world trade, includes measures to curtail agricultural export subsidies, make substantial reductions in trade-distorting domestic support, and increase market access for products and services.

“An agreement on an agricultural framework is the key to unlocking progress on the broader multilateral agenda, and the current text is one that Canada should be willing to work with,” said Thomas d’Aquino, President and Chief Executive of the Canadian Council of Chief Executives (CCCE). “To play a meaningful role in these talks, Canada must demonstrate that it is ready to discuss all issues, even those that elicit protests from certain special interests within our own borders.”

Mr. d’Aquino noted that the success of the current round of global trade talks is of vital importance to the world’s less developed countries. According to the World Bank, a successful conclusion to this round could add (U.S.) $3 trillion to the global market place. Most of those gains would benefit poor countries, helping to pull hundreds of millions of people out of poverty.

“People throughout the developing world are looking for leadership from governments in Canada and other industrialized countries to give them a fair share of the benefits that flow from trade liberalization,” Mr. d’Aquino said.

“Benefits for the developing countries provide a win-win outcome for producers and consumers worldwide. The advantages of liberalized trade are demonstrable for all to see.”

The CCCE is a non-partisan organization with an outstanding record of achievement in matching entrepreneurial initiative with sound public policy choices. Member CEOs lead companies that collectively administer in excess of $2.3 trillion in assets, have annual revenues of close to $600 billion and account for a significant majority of Canada’s private sector investment, exports, training and research and development.