It is critical that the international community exchange concerns, experiences and ideas for managing the taxation of electronic commerce. I am impressed by the strides being taken in the international community. A consensus is developing that there is no need to create a whole new set of tax laws. Rather, we need to find innovative ways to apply electronic commerce to our existing tax laws, regulations and policies which have been crafted and tested over decades. This is the best way to ensure the certainty and neutrality we all want to achieve.
Electronic commerce is truly a global phenomenon.
We must extend our help and expertise beyond our 29 countries. So I am pleased to note how many representatives from non-OECD countries are here today. As I mentioned earlier, cooperation among governments must extend to the relationship between governments and business. I see in the audience representatives from a wide range of industries with an interest in electronic commerce-banks, railways, small businesses and computer companies. This meeting, with so many important business leaders here, is a great way to create the kind of government-business dialogue we need.