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WORLD ECONOMIC FORUM : INITIATIVE TO LIBERALISE TRADE IN 'GREEN GOODS'.

'Green goods' are on a roll and trade in such products could go through the roof if it was liberalised, said the EU and a dozen other members of the World Trade Organisation(1), which, on 24 January, made a commitment, in the margins of the World Economic Forum in Davos, Switzerland, to launching WTO negotiations to this end under the Bali agreement (ninth WTO ministerial conference, on 3-6 December 2013).

The goal of this initiative is to eliminate customs duties on a long list of green goods. The point of departure for discussions is a list of 54 ecological products established by APEC a(Asia-Pacific Economic Cooperation) in October 2013.aTalks will focus first on goods, but the WTO members behind the initiative hope to create a 'living agreement' that will grow and evolve according to future needs, thereby making it possible to address other barriers to trade in green goods and services.

"I'm delighted to launch this 'green goods' initiative," announced Trade Commissioner Karel De Gucht. "The EU is firmly committed to promoting and liberalising trade in green goods and services. All WTO members need better access to the goods and technologies that protect our environment and combat climate change." He called on other members of the WTO to join the effort with a view to reaching a global agreement on trade in ecological goods.

(1) Australia, Canada, China, Costa Rica, Taipei, Hong Kong, Japan, Korea, New Zealand, Norway, Switzerland, Singapore, the United States

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Publication:Europe Environment
Date:Feb 7, 2014
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