. /.WORLD TRADE
ORGANIZATIONWT/MIN(99)/ST/60
1 December 1999
(99-5279)
MINISTERIAL CONFERENCE
Third SessionSeattle, 30 November - 3 December 1999Original:  English
ICELAND
Statement by H.E. Mr. Halldór Ásgrímsson
Minister for Foreign Affairs and External Trade
It is obvious that globalization is a force of tremendous power.  It is equally obvious for a
country like mine, small and heavily reliant on trade, that this force must be harnessed by the rule of
law.  We must ensure fair rules which put all countries on an equal footing.  We will make a major
contribution in this direction by launching a new comprehensive round of negotiations to further
develop trade rules and to strengthen the multilateral trade system.  In this context I welcome thenewly concluded agreement between the Governments of China and the United States, as an
important step for China's accession to this Organization.
I would first like to single out and elaborate on the issue of the environment and the over-
exploitation of renewable resources.
Fisheries is the most important economic activity of my country, generating over half of our
foreign currency income.  Responsible management, with the aim of preservation and sustainable
utilization of the fish stocks, is permanent priority on my government's agenda.  During the last
20 years we have managed to develop a system which embraces these elements.  We believe that this
approach will secure our access to the resources for the future, so that they can continue to be a major
well of our prosperity and a viable food source for consumers around the world.
Of particular concern to us are fisheries subsidies.  Such subsidies, which promote over-
exploitation and over-capacity, are harmful to the sustainable development of the fishing stocks and
distort trade.  Thus, Iceland advocates that rules and disciplines be further developed in this respect in
the context of the next round of negotiations, with the ultimate aim of eliminating all such subsidies.
I am particularly pleased to observe that proposals Iceland has submitted at the WTO forum
regarding fisheries subsidies have found their way into drafts for the Ministerial Declaration.  I wouldlike to use this opportunity to thank all Members who have supported our approach.  If we succeed in
eliminating subsidies on fisheries, we will achiev e a "win-win-win" situation.  We will ensure the
continued availability of these valuable food resources; protect the environment; and secure non-
distorted trade.  We will also show that the WTO has the will and competence to take positive action
to protect the environment.
As to more general points, it is Iceland's belief that implementation must be a central issue in
the new round.  Without effective implementation of the present agreements, it makes little sense to
develop new rules.  Furthermore, we must ensure that all Member nations can execute the new rules
we establish.  We are thus fully committed to supporting every exercise to review the present
agreements in an effort to improve implementatio n for the benefit of the developing and developed
countries alike.WT/MIN(99)/ST/60
Page 2
In parallel with improving implementation, we must continue to further liberalize multilateral
trade rules, to eliminate protectionism, and to remove trade barriers and trade distorting measures.  In
my mind this applies to agriculture, to services and to industrial tariffs.  To this end we ought to show
flexibility, sensitivity, good will and, not least, vision in our negotiations.  At the same time, we must
be aware of the need to adapt the trading system to the real needs of our societies - and recognize thatcertain sectors have many functions, I am thinking here of the non-trade concerns of agriculture.
I would also like to emphasize the importa nce of negotiating commitments, rules and
disciplines in fields such as government procurement, trade facilitation, environment, development
and electronic commerce.
Let us aim at a successful round of negotiations which addresses the justifiable expectations
of all residents in our global village.  Chief among these must be increased prosperity, sustainable
development to protect our global environment and the fostering of democratic ideals.  If we losesight of these higher objectives, then many in the world will continue to see globalization as a threat
and this great venture will fail to get the in-depth support it needs to succeed.
__________