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Media Release
For Immediate Release:
Thursday 2
nd
December 1999
US HORSE-TRADING ON
INVESTMENT?
A year ago, on December 4, 1998, the
wealthy nations of the OECD abandoned
attempts to set up a Multilateral Agreement
on Investment (MAI). The MAI, which would
have empowered corporations at the expense of
people and the environment, was strongly
opposed by civil society organizations. But,
the principles of the MAI may re-emerge in a
WTO end-game as a result of intense pressure
from the European Union.
According to sources on a number of
Delegations, most WTO member countries oppose
investment negotiations in the WTO and
instead favor a study group on investment
issues. The European Union is standing in the
way of this majority opinion. According to
negotiators, the EU has even insisted that if
there is no investment negotiation, there
will be no ministerial declaration.
Most developing countries oppose
investment negotiations. So far the United
States has also spoken out against
negotiations. Friends of the Earth is
concerned that the US may agree to investment
negotiations in a last-minute trade off with
the EU on agriculture, a biotechnology
working group, and accelerated elimination of
tariffs in forest products and other industry
sectors.
Commenting, Mark Vallianatos of FoE US
said:
"We call on the US government to stand
firm in opposing WTO investment
negotiations. Trade offs that allow
investment negotiations in the WTO would
wreck any chance of public support of the
trading system."
Contact:
Mark Vallianatos Alexandra Wandel Vice
Yu
FoE US FoE Europe FoE Philippines
206-953-0347 206-953-0755 206-953-9178
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