Sixty per cent of foreign direct investment flows from the EU and the rest of the OECD are to non-OECD countries. Non-OECD countries provide 30 per cent of the world's new FDI each year. It is an interest we all share. It is also an issue which is primarily for the WTO because it involves the development of an appropriate framework of binding rules. We should be under no illusion that all firms, whatever their size, prefer to invest in large markets and in secure markets.
Bigger countries have no problems attracting funds.
WTO rules will help provide the necessary underpinning. Finally, labour standards and environmental protection remain important. Environmental protection is a serious issue for us all. The results of the WTO's work to date fall short of our expectations. WTO's credibility is at stake, and there is much to do.