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EC REACTS TO U.S. TRADE BARRIERS REPORT

 EC REACTS TO U.S. TRADE BARRIERS REPORT
 WASHINGTON, March 31 /PRNewswire/ -- The European Community (EC)


Commission issued the following:
 The services of the EC Commission have examined the 1992 National Trade Estimate Report on Foreign Trade Barriers published by the U.S. Trade Representative's Office. We note that the tone, content and objective of the report are similar to those in previous years.
 The Commission supports the concept of transparency in trade and consequently will be publishing on April 9 its own extensive list of barriers faced by EC exporters and investors in the U.S. market. The size of both the EC's and the U.S.'s reports illustrates that much remains to be done to resolve trade issues at both a multilateral and bilateral level.
 A successful conclusion to the Uruguay Round would be the single most important step which could be made towards scaling back the EC- U.S. trade issues agenda. Such a result would also provide an improved framework for solving trade disputes. Work continues to this end, as well as towards finding solutions to a number of very significant bilateral trade issues (e.g. Airbus, telecommunications).
 In highlighting obstacles to trade, sight should not be lost of the fact that the vast bulk of trade between the EC and the United States moves without impediment across open frontiers. The EC and the United States are two of the world's most open economies and trade imbalances self-equilibrate over time. In 1991, the United States recorded a trade surplus with the EC of almost $17 billion (compared to a U.S. trade surplus with the EC of $6 billion in 1990).
 -0- 3/31/92
 /CONTACT: Ella Krucoff of the EC Commission, 202-862-9540/ CO: European Community Commission ST: District of Columbia IN: SU:


MH -- DC017 -- 3428 03/31/92 12:44 EST
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