WORLD TRADE WT/MIN(96)/ST/108
12December 1996
ORGANIZATION(96-5339)
MINISTERIAL CONFERENCE Original: English
Singapore, 9-13December 1996
CYPRUS
Statement byH.E. Mr.Kyriacos Christofi
Minister ofCommerce, Industry andTourism
Iamparticularly happy toaddress thisMinisterial Meeting, thefirstsince thesigning at
Marrakesh oftheFinal ActoftheUruguay Round andtheestablishment oftheWorld Trade
Organization.
Allow meattheoutset tocongratulate youandtheother members oftheBureau foryourwell-
deserved election totheChair. Weareconfident Mr.Chairman thatwithyourwiseguidance our
deliberations willbecrowned withsuccess.
Allow mealsotocongratulate theSingapore Government fortheirhardwork andcommitment
inorganizing thisConference andthank them fortheirgenerous hospitality.
Itisonlynatural toholdourmeeting inthisenchanted island which hasalways stood fortrade
liberalization andhasbecome awell-established international trade andbusiness centre.
IavailmyselfofthisopportunitytoextendmyGovernment'sappreciationtotheDirector-General
ofWTO Mr.Renato Ruggiero forhisuntiring efforts andablemanner withwhich hesteers our
Organization.
Wehaveallgathered heretoevaluate theprogress made sofarintheimplementation ofthe
decisions oftheUruguay Round andchart ourfuture action, giving priority tothe"built-in" agenda
agreed atthatRound.
Thepresence onthisimportant occasion ofsomany highpolitical personalities offers aunique
opportunity topromote further thegoalofglobal trade liberalization inthenextfewyears through
anagreed course ofaction ensuring thatthesystem continues tomove forward onthebasisofconsensus.
Theemergence oftheWTO hasarticulated andimparted substance toavision ofthenewworld
trade order from which many nations havebenefited during thelastfewyears. Recent international
experience confirms thattrade hasconsistently beentheleading edgeoftheworld economy.
In1995, world tradeexpanded significantly andthevolume ofworld merchandise exports grew
by8percentwhile thecombined value ofcross-border trade ingoods andservices broke the
US$6,000 billion mark. Volume growth in1996, formerchandise exports isexpected tomaintain
around 7percent.
Trade liberalization brought newdynamism through improved trading opportunities anditis
expected tobring more stability through thereinforcement oftheruleoflawininternational tradeWT/MIN(96)/ST/108
Page2
matters. Nonetheless, weshould notoverlook thetremendous problems faced bythesmall andthe
leastdeveloped countries inthenewinternational environment.
Thedifficulties ofthenetfood-importing developing countries inparticular, command our
urgent consideration andcompassion. International stability cannot becemented unless itisbased on
justice andmutual respect.
Weareconvinced thatourefforts towards international understanding andcooperation will
notmake much headway unless parallel action istaken toimprove living standards inthedeveloping
countries, unless ignorance, poverty andsqualor areeradicated, andunless conditions which are
consistent withhuman dignity arecreated. After alleconomic andsocial development isanessential
pathtopeace andstability.
Theimmense advances inscience andtechnology present usnowwithanewopportunity to
embark onarapiddevelopment ofourhuman andmaterial resources andthrough concerted international
action topromote progress andprosperity onaglobal basis. TheWorld Trade Organization isina
unique position toplayaleading roleinthishistoric mission. Notonlydoesitprovide theforum and
themachinery forthispurpose, butitalsopossesses thosecharacteristics andoperates onthoseprinciples
which aresovitally important inanincreasingly interdependent world.
Cyprus iscommitted totradeliberalization. Mycountry hasputalotofeffort inimplementing
thechanges stemming fromtheneworder. Despite thedifficulties inadjusting tothenewtrade rules
andmarket opening commitments, teething problems havebeenovercome. Thebureaucratic and
inefficientregulationsoftradethroughimportlicensingandquantitativerestrictionshavebeenabolished.
Theprospective accession ofCyprus totheEuropean Union andourongoing harmonization policy,
create awebofrelations which gobeyond freetrade.
Itencompassesatthesametimeeconomiccooperation,approximationoflegislation,competition
policy andpolitical dialogue. Webelieve thatthisconvergence iscompatible withthecommitment
tomultilateral trade liberalization, andisinlinewiththeMFN (Most Favoured Nation) principle and
theWTO 'srules.
Themessage wemust sendoutfrom Singapore mustbeclear: wecannot afford togoback
tonational orregional protectionism. Theworld markets arenolonger separated bypolitical borders.
They arenowwide open tocompetition andglobalization. Interdependence between economies
strengthens theintegration process, which isthedriving force oftheglobal economy, taking many
forms e.g.global market, international competition, openness andliberal traderegimes. Inturn,they
ensure openandsecure markets, stimulate trade, helprealize benefits andopportunities, andincrease
ourprospects forgrowth andmore jobs.
Wemust alsoensure thatasaresult ofglobal integration, benefits accrue tothedeveloping
andtheleastdeveloped countries aswellastoeconomies intransition, bearing inmind thatthese
countries havebeenpursing economic reforms atagreatsacrifice; hence theneedforconcerted action
toensure thatthese countries arenotmarginalized.
TheMarrakesh Decisions infavour oftheleastdeveloped andnetfood-importing developing
countries should beimplemented ifwearetosafeguard progress andachieve theintegration ofthe
poorest countries intotheworld economy andtheirsharing oftheaccrued benefits.
Specialattentionshouldbegiventotheneedsofcountriesfacingeconomicdifficultiesbyhelping
them solve theirdebtproblems anddevelop therightenvironment through theprovision oftechnicalWT/MIN(96)/ST/108
Page3
assistance andother aid,including foodaid,fortherehabilitation oftheir infrastructure andfor
strengthening theirinstitutional capacities andhuman capabilities.
Itisessential thattheWTO should continue itsprogramme ofclosecollaboration andexchange
ofviews withother international organizations suchasUNCTAD, theWorld Bank andtheIMF.
Improvedrelationshipsandcoordinationamongtheseinstitutionsisessentialifwearetohaveanefficient
andcoherent global economic policy andavoid unnecessary duplication.
Inconclusion, mydelegation believes thatwemustnotsubstitute thetermination oftheCold
Warwithincreased antagonism between theNorth andtheSouth. Itisnowaneraofconciliation and
collaboration forthecommon good ofmankind. Wemustwork, inrealpartnership, topromote the
economic andsocial development ofallcountries, asenunciated bytheUNCharter.