On
December 15, the Eighth Ministerial Conference of the World Trade
Organization (WTO) opened in Geneva with news that -- after more than 10
years of negotiations -- a deal
was reached on a more robust Government Procurement Agreement (GPA) to
generate new business opportunities for U.S. companies in 42 countries
and more than 150 central and sub-central government entities, such as
Canada's provinces. Additional sectors are being opened as well, and
countries will enhance transparency by bidding for contracts through
electronic methods. According to WTO estimates, the total value of new
market access opportunities is expected to be between $80 and $100
billion. The U.S. Chamber welcomed the news:
"With 'buy local' mandates proliferating around the globe, the expanded
GPA will help avoid a protectionist spiral and keep foreign procurement
markets open to U.S. firms," said Chamber Senior Vice President for
International Affairs Myron Brilliant.
The
Ministerial Conference will also take up the accessions of Russia,
Samoa, and Montenegro on December 16. "We're delighted the WTO is
continuing to play its vital role in securing open markets around the
globe, as underscored by this strong procurement agreement and the
accession of Russia, the world's 11th largest economy," said Brilliant.
"The U.S. business community needs the WTO not just to survive but to
thrive, so this news is very welcome."
The
Chamber is represented at the WTO Ministerial by Ralph Carter (FedEx)
and Richard Holwill (Amway), who co-chair its Trade Task Force, and by
senior director for international policy Christopher Wenk, who is blogging from Geneva. The Chamber and five other U.S. business associations will host a reception
Friday evening celebrating Russia's expected accession to the WTO. For
details, please contact Stefanie Holland, Director for International
Policy (sholland@uschamber.com).
