WORLD TRADE ORGANIZATION TO REDEFINE CHARTER

 At a lunch held today at CPA Australia, Sydney, Kinnithrung Sprat, 
Development and Economic Research, World Trade Organisation 
announced the restructure of the World Trade Organisation and the 
development of the Trade Regulation Organisation.

 "After September 30th the World Trade Organisation as we know it 
will no longer exist," said Mr. Sprat.

 The official WTO Media Release follows:

 Mr. Sprat is currently at CPA Australia and will be available for 
comment this afternoon. Contact Barbara Magee 0419 603 477.

 WORLD TRADE ORGANISATION

 rue de Lausanne 154
 CH-1211 Geneva 21
 Switzerland

 May 21, 2002 For Immediate Release

 WORLD TRADE ORGANIZATION TO REDEFINE CHARTER

 After a protracted review of current policy, the World Trade 
Organization will dissolve its current charter and refound under a 
set of governing principles based in a different understanding of 
the purposes of world trade. This restructuring was announced today 
at CPA Australia.

 The new organization, which pending ratification will be referred 
to as the Trade Regulation Organization, will have as its basis the 
United Nations Universal Declaration of Human Rights, with the aim 
of ensuring that the TRO will have human rather than business 
interests as its bottom line. The current bilateral agreements 
system will be replaced with a multilateral system.

 The changes come in response to recent studies which indicate 
strongly that the current free trade rules and policies have 
increased poverty, pollution, and inequality, and have eroded 
democratic principles, with a disproportionatly large negative 
effect on the poorest countries.

 As of September, agreements reached under the WTO, as well as 
under GATS, TRIPS, and other frameworks, will be suspended pending 
ratification by the new Trade Regulation Organization. Many 
existing agreements are likely to be re-ratified within the TRO, 
but each one is subject to individual review for ethical qualities 
within the global picture.

 Proposals and resolutions for the foundation of the TRO will be 
evaluated beginning in June according to their likelihood of 
furthering the TRO charter. Specifically this will mean redressing 
the imbalances of existing trade agreements; providing access for 
developing countries to developed countries' markets; assessing the 
effects past trade liberalization and redressing problems where 
possible; and developing an enforceable framework for special and 
differential treatment guaranteeing that development policies are 
not undermined by trade agreements.

 Furthermore, principles will aim not only at fixing core problems, 
but at building a new regime of trust among ourselves (notably 
between developing and developed members), with civil society 
organizations (NGOs), and with members of the public. The ultimate 
aim is to establish rules whose priority is to benefit the poor, 
improve the environment, and strengthen democratic principles.

 A more detailed announcement will be made on Friday, May 24, 2002.


Contacts:

Michael Bonanno, Public Relations, World Trade Organization
0401 706 129, bonanno@gatt.org, michael_bonano@hotmail 

Kinnithrung Sprat, Development and Economic Research, World Trade 
Organization
0401 706129, ksprat@gatt.org, kbsprat@yahoo.fr 




Kind regards,
Barbara Magee Communications Manager
CPA Australia New South Wales Division
Ph. 02 9375 6205
Mob 0419 603 477
barbara.magee@cpaaustralia.com.au (Please note new email address & 
update your records, thank you)

Source: CPA Australia

Original Fax Release


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