Bill Clinton: “Organization December 17, 1999 The United States and the European Union consider the multilateral trading system one of…”

“Organization December 17, 1999 The United States and the European Union consider the multilateral trading system one of the world's principal bulwarks of peace, sustainable development, and economic growth; and a primary engine for rising living standards and broad-based prosperity in the future. As we approach the new century, we must ensure that the trading system retains its dynamism and ability to respond to changing needs of an increasingly diverse membership. Accordingly, both sides note their disappointment at the failure to reach agreement on a new Round of trade negotiations at Seattle, but they agree it is now important to find a way forward. In this context, the EU and the US both pledge continued readiness to work with Director General Mike Moore and our partners to launch an inclusive new Round as soon as possible. A new Round has to be definitively different from its predecessors. It should encompass the built in agenda of agriculture and services, further and effective market access liberalization, support our efforts to harness globalization by strengthening and extending WTO rules, and address the concerns of both developing countries and civil society. With the Director General and all other members of the WTO, we need to take full account of the lessons of Seattle.…”