WORLD TRADE WT/FIFTY/H/ST/6
19May1998
ORGANIZATION(98-2064)
50thANNIVERSARY Original: English
Geneva, 19May1998
BULGARIA
Statement byMr.IvanKostov,
Prime Minister
Onits50thAnniversary themultilateral trading system canlookbacktoanimpressive record
ofachievements. After theSecond World WartheGeneral Agreement onTariffs andTrade hasbeen
themain international instrument which through theliberalization andexpansion ofworld trade has
contributed toeconomic growth, stability andwelfare.
Asasmall andhighly trade-dependent nation, Bulgaria particularly values theachievements
ofthemultilateral trading system. Forus,liberal trademeans greater access toworld markets, higher
levelofemployment andabetter standard ofliving. Thisiswhyitisimportant forustobepartof
theinternational trading system.
Forus,ourWTO membership means morethanonlysharing inthebenefits oftheliberalization
ofworld trade. Itisalsoacommitment undertaken toabide bygeneral rules. Bulgaria wasthefirst
country intransition tojointheWTO afteritsestablishment. Itwasanirreversible commitment to
thevalues ofliberal trade thatweembraced. Onthepartoftheinternational community Bulgaria ’s
accession wasanactofrecognition ofourefforts inthefieldofeconomic reform.
These efforts oftheBulgarian people inthedifficult times oftransition havebeensignificant.
Ourtrade hasexperienced thenegative impact ofthelossoftraditional markets andinternational
embargoes against ourimportant trading partners. Inspiteofthedifficulties Bulgaria hasstood firmly
byitsinternational commitments. Wehavenotresorted toprotectionist measures, incompatible with
therules oftheWTO. Onthecontrary, wehavecontinued tomaintain anopeneconomy. Wehave
made acontribution totheliberalization ofworld tradebyourparticipation inthetwomajor initiatives
intheframework oftheWTO afteritsestablishment: thenegotiations onbasic telecommunications
andthose onfinancial services.
Inspiteofitseconomic difficulties Bulgaria grants duty-free treatment toimports from all
least-developed countries.
Themostsignificant stepinthe50-year history ofthemultilateral trading system isundoubtedly
itsinstitutionalization through theestablishment oftheWorld Trade Organization, andthestrengthening
ofitsdispute settlement mechanism. Asasmall country Bulgaria isparticularly interested inthe
enhancement oftherules oftheworld trading system andinperfecting themechanisms ofdispute
settlement.
Wearesupportive oftheconstant efforts todevelop andexpand thesystem anditsability to
adapt withaviewtofacing newchallenges, while respecting thedelicate balance between theinterests
ofitsnumerous participants.
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Bulgaria isinterested toparticipate forthefirsttimeonequal footing inafuture comprehensive
round ofmultilateral trade negotiations. Theruleoflawininternational relations isofspecial interest
tothesmall participants. Inorder toensure thecontinued success ofthesystem anditscredibility
inthefuture, itisessential topreserve andfurther enhance itsdynamism andtoensure thatalltrading
partners canbenefit from it.
Another important taskforthefuture oftheWTO isitsexpansion through theaccession of
newmembers inorder tobecome atrulyglobal anduniversal organization. Many ofthecountries
nowacceding totheWTO areimportant trading partners forBulgaria andtherefore forusitisessential
thatthese countries bebrought assoonaspossible within thesystem. With thecountries which have
beentraditional trading partners ofBulgaria wewillseektofurther develop ourtrade relations and
expand theaccess ofgoods andservices totheirmarkets.
Inthepast50years, another major factor fortheliberalization oftrade, alongside withthe
multilateral trading, hasbeenregional economic integration. AsaEuropean country which strives to
jointheEuropean Union, wesincerely believe thatregional integration andthemultilateral trading
system arecompatible andmutually supportive.
Inconclusion,letmeexpressonceagain,ourfullcommitmenttotheinternationaltradingsystem
andourhopethatinthe21stCentury itsinstitutions andruleswillbefurther strengthened anddeveloped
tobenefit alltheworld ’speoples andtocontribute toglobal welfare.
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