This note looks at the state of play of the different elements of WTO short term confidence-building measures following the General Council of 3 and 8 May. Attached to this note is the text on confidence building measures agreed to by EU, US, Japan and Canada. EC Position EC had proposed a commitment to grant duty free and quota free access to essentially all products from the least developed countries. The commitment should be assumed by developed countries, but more advanced developing countries were also expected to make a contribution. Following long discussions, the Quad was ready to accept such commitment.
All exceptions are in the agriculture sector.
He also stressed dynamic nature of initiative and asked WTO members to continue to inform WTO on further steps to improve market access to LLDC'S. Comments Pleased that the Quad and 10 others WTO members have announced in WTO initiatives to enhance market access for LDCs. This is by far the most generous of all preferential schemes currently in place. We are ready, however, to make further efforts. This approach would also require closer co-operation between the WTO and Development Organisations, including in particular the World Bank. EC and Member States are, collectively, the largest providers of extra-budgetary funds to WTO Technical assistance.