Man for all countries: WTO chief to push for financial-services deal

Article Abstract:

Renato Ruggiero was appointed World Trade Organization director by consensus despite concerns that he might take a pro-Europe stance to the detriment of developing economies such as in Asia. However, Ruggiero plans to serve all 128 member nations equally and hopes to make the opening of financial sectors his first major action, especially in Asia but also in the US, Canada and Europe. He feels that regional groups have complementary rather than competitive aims and that the dispute-settlement mechanism is sufficient to handle the US-Japan automobile trade dispute.

Officials and employees, Interview, World Trade Organization, Ruggiero, Renato

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Open here: European Union attacks Seoul's trade barriers

Article Abstract:

The European Union (EU) is objecting to South Korean policies that favor US imports of telecommunications equipment and is planning to bring the issue before the World Trade Organization. South Korea states that it is willing to offer European companies access to its market, but since South Korea requires certification procedures, Europe is unlikely to have a market presence before 2000. More generally, EU Trade Commissioner Leon Brittan has stated that the EU will not allow Asian nations to show preference for US goods.

Telecommunications, Telephone Communication, South Korea, Telecommunications industry, Telecommunications equipment industry, Political aspects, Nontariff trade barriers

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Un-common market

Article Abstract:

EC's single market is supposed to offer unlimited trade opportunities but trade regulations seem to foster more foreign relation problems than before. Asia is supposed to benefit immensely from the single market but recent shipment problems and the continued existence of national quotas have negated the projected advantages. Even the member states of the EC have implemented diverse trade policies which further exemplifies the chaotic state of the single market initiative.

Evaluation, Single European market, European Community

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