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1400 GENEVA TIME ( 1300  GMT) 26 FEBRUARY 2007  
 
PRESS/TPRB/278 
26 February 2007 
 
(07-0734) 
TRADE POLICY REVIEW: EUROPEAN COMMUNITIES 
Improved economic situation, but continued reforms needed 
The European Communities’ economic situation has improved following the economic slowdown in 
2001-03, mainly driven by private investment and exports. The economic recovery has translated 
into a decline of unemployment and was accompanied by strong expansion of international trade. 
Nonetheless, sustained recovery would appear to hinge on continued structural reforms, including 
further liberalization of services both at the intra-EC level and vis-à-vis  third countries, according 
to the WTO Secretariat report on the trade policies and practices of the European Communities. 
 The report also notes that the European Communi ties is the world’s leading exporter and the 
second-largest importer of goods, and its economy has continued to support global growth by 
maintaining its market open, but trade barriers remain in a few but important areas, notably agriculture. Indeed, the report states that despite an increase in the exposure of farmers to world 
markets due to the implementation of the 200 3 Common Agricultural Policy (CAP), further 
reduction of export subsidies and tariffs on agriculture are needed.  
The report, along with a policy statement by the European Communities, will be the basis for the 
eighth Trade Policy Review (TPR) of the European Communities by the Trade Policy Review Body of 
the WTO on 26 and 28 February 2007. 
 
The following documents are available in MS Wo rd format on the WTO web-site. They can be 
downloaded at http://www.wto.org/english/ tratop_e/tpr_e/tp278.htm  
 
• Secretariat report 
> Contents and summary observations  
> Economic environment  
> Trade and investment regimes  > Trade policies and practices by measure  
> Trade policies by sector  
> Appendix tables  
• Report by the European Communities 
• Chairperson’s concluding remarks  
• Minutes of the meeting (available appr oximately six weeks after the meeting). 
 PRESS/TPRB/278 
Page 2 of 2 
 
 
 Note 
Trade Policy Reviews are an exercise, mandated in the WTO agreements, in which member countries’ trade and related policies are examined and evaluated at regular intervals. Significant 
developments that may have an impact on the global trading system are also monitored. For each 
review, two documents are prepared: a policy stat ement by the government of the member under 
review, and a detailed report written independently by the WTO Secretariat. These two documents are then discussed by the WTO’s full membership in  the Trade Policy Review Body (TPRB). These 
documents and the proceedings of the TPRB’s meetings are published shortly afterwards. 
 Print copies of the TPR publications are available for sale from the WTO Secretariat, Centre William 
Rappard, 154 rue de Lausanne, 1211 Genève 21 and through the on-line bookshop at 
https://secure.vtx.ch/shop/boutiques/wto_index_boutique.html  or follow this path :  
www.wto.org >resources > publications > trade policy reviews  
 
The TPR publications are also available from our co-publisher Bernan Press , 4611-F Assembly Drive, Lanham, MD 20706-4391, United States 
Next reviews: 
Australia: 5 and 7 March 2007 
Canada:  21 and 23 March 2007 
Costa Rica:  16 and 18 April 2007 
 For a full list of previous trade policy reviews and the full programme of future reviews go to 
http://www.wto.org/english/trat op_e/tpr_e/tpr_ e.htm#reviews 
or follow this path : www.wto.org > trade topics > trade policy reviews  
 
 
END