A commitment to enact such domestic legislation would itself be a major step forward. Currently, more than half of the WTO member nations do not even possess competition codes, denying our efforts to compete fairly. Existing WTO dispute settlement mechanisms could be applied on an intergovernmental level. WTO member nations could agree that each country enact a domestic competition law. A failure to do so could give rise to a complaint by another country.
Free trade requires fair competition.
But my concerns are much broader than any single point of policy. I've come here today specifically to ask you a favor. If you believe in these things, then I ask that you stand alongside UPS to seek reforms not just in air transport and customs regulations here in Europe, but in any anti-competitive policy that affects free trade around the world. I'd like to close with a quote from a former CEO of one of the world's largest multinational banks. He really put the issue of free trade in perspective.