WORLD TRADE WT/MIN(98)/ST/56
18May1998
ORGANIZATION(98-2044)
Original: English MINISTERIAL CONFERENCE
Second Session
Geneva, 18and20May1998
ESTONIA
Statement Circulated byMr.Toomas Hendrik Ilves
Minister forForeign Affairs
(AsAnObserver)
Inits50years themultilateral trading system hasjustified itsroleasthemosteffective tool
ofliberalizing world trade andindeed theentirety ofeconomic development. TheWorld Trade
Organization hasalsofound itswell-deserved place ininstitutional frameworks along with its
Bretton-Woods 'brethren. Theeffectiveness ofthisrule-based regulatory system hasbeenwell-proven
byitsMembers whohavecommitted themselves totheimplementation oftheWTO Agreements.
Intheyears tocome theOrganization seems tofacetwomajor challenges: first,itmustregulate
mutual trading relations inanumber ofnewareas andensure theeffective implementation ofalready
agreed upon principles, secondly theOrganization must strive formaximum compliance withits
disciplines. Thewider theacceptance oftrading rules thestronger theOrganization. Inaddition to
itsexisting Members therearestillmore than30governments thatcurrently areobserving theprocess
while simultaneously preparing themselves forfullmembership. These countries provide clearevidence
oftheroom fordevelopment. Unless allthose whohaveexpressed theirwishtofollow theWTO Code
ofConduct havenotbeenincorporated, theword "World" initsname remains apromissory note.
Geographical expansion oftheOrganization isthusequally important tointernal strengthening and
benefits boththeMembers andwould-be members.
Estonia shares thestatement made tothisendinthequadrilateral meeting earlier thismonth
andvalues highly thecommitment ofWTO tobecome trulyglobal. Astradeisincreasingly important
forevery nation intheworld theneedless prolongation oftheaccession negotiations mayjeopardize
economic development notonlyinthecountries inaccession butalsotheworld economy inawider
context, andthusrunscounter totheprinciples andgoals aswellasthespirit ofWTO.
ForEstonia foreign tradeisofmajor significance. Although being amarket ofonly1.5million
butenjoying aforeign trade/GDP ratioofapproximately 1.6wecanconsider ourselves abigtrading
nation. Some 10percentoftheworkforce earns itsliving fromthechain oftransit trade andexports
ofgoods andservices. Wecanevensaythatthelion'sshare ofthe10percenteconomic growth last
yearisattributable toincreased tradeflows. Hence theimportance ofWTO membership formycountry
andthehighpriority ofachieving thisinitsforeign policy asawhole.
Estonia hasbeenintheaccession process since 1994 andwehavemade considerable efforts
toprovide commercially justified terms forourpartners. Preparation fortheWTO membership has
notbeenaneasytaskgiven theparallel jobofcleaning upthelegacy ofacommand economy and
ensuring asustained growth oftheeconomy ingeneral. Wehavemade aclear commitment tothe
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principles andvalues thathavebeenandarebeing established andfollowed bythe132Members of
theclub. Furthermore, going beyond theresults oftheUruguay Round Estonia welcomes newinitiatives
forthefurther liberalization oftrade. Becoming aparticipant oftheInformation Technology Agreement
provided usanopportunity toprove that. Wearealsosupportive totheideas thatthere isenough
room forWTO totackle thechallenges posed tonations byanumber ofnewareasimportance ofwhich
ininternational economy hasincreased considerably inthelastdecade. Estonia considers itimportant
thatworkwillalsobecontinued toensure successful implementation oftradeliberalization insomewhat
conventional areas.
Estonia hasreached thefinalphase oftheaccession process andwewelcome quick solutions
needed forthesuccessful conclusion ofthenegotiations currently dependent ontheability tofind
compromises inthemultilateral framework. Letmeassure youthatEstonia isready tobeapositive
example thatthecomplexity ofthepost-Uruguay Round trading rules isnotanobstacle forthis
Organization tobecome trulyglobal.
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