WORLD TRADE WT/FIFTY/H/ST/4
19May1998
ORGANIZATION(98-2071)
50thANNIVERSARY Original: English
Geneva, 19May1998
JAPAN
Statement Circulated byHisExcellency Mr.Ryutaro Hashimoto,
Prime Minister
Iwould firstliketoproffer mycongratulations ontheoccasion ofthe50thAnniversary of
theGeneral Agreement onTariffs andTrade (GATT), thebedrock ofthemultilateral trading system.
Thissystem hasenabled anunprecedented expansion anddevelopment ofworld trade, laying
downafoundationforpeaceintheinternationalcommunitywhichisincreasinglyinterdependentthrough
tradeandinvestment. GATT hasbeenenhanced, andtheWorld Trade Organization (WTO) provides
notonlyaforum formultilateral liberalization andrule-making, butalsoaunique, advanced mechanism
forafairandobjective resolution oftrade issues. Iamparticularly appreciative ofthevalue ofsuch
asystem, having personally experienced, asMinister ofInternational Trade andIndustry, negotiations
conducted under politically tense conditions, suchastheJapan-United States autonegotiations.
There is,however, noroom forcomplacency. Theworld economy today isfaced witha
challenge triggered bytheeconomic crisis inAsia. Japan firmly believes intherecovery ofthose Asian
economies which havebeenmaking earnest efforts toovercome theirdifficulties andisdetermined
toextend maximum assistance tothese countries. Trade andinvestment liberalization hasplayed a
crucial roleinthedevelopment ofAsian economies. Likewise, appropriate economic structural reforms
andfurther liberalization under themultilateral trading system willbeimportant inensuring areturn
tosteady economic growth. Iwould liketotakethisopportunity toappeal toMembers todeclare
theirresolve toresist protectionist tendencies andtocontinue tokeeptheirmarkets open.
Themultilateral trading system should evolve dynamically sothatitcontinues toprovide a
foundation fortheworld economy. Itisourresponsibility topassontheWTO system, which isthe
fruitofthediligent efforts ofourpredecessors, tofuture generations inastronger andmore developed
form. Wemust, therefore, giveserious thought astohowwepursue theprocess offurther liberalization
under theWTO system from theyear2000. Japan supports theideaofcomprehensive negotiations
fortradeliberalization, including industrial tariffs, rulesoninvestment andother newareas, inaddition
tothe"built-in agenda" asaresult oftheUruguay Round. Japan sincerely hopes thatbroad dialogue
among Members willleadtoanappropriate decision attheMinisterial Conference in1999.
Weshould actively engage ourselves inaddressing newitems, suchasenvironment, which
haveemerged asaresult oftheglobalization oftheinternational economy. Inaddition, wemustaddress
thequestions astohowdeveloping nations canadequately benefit form theWTO system, aswellas
howwecanensure theprimacy ofthemultilateral system vis-à-vis regional arrangements, which are
currently ontheincrease.
Japan ispushing forward anumber ofreforms totransform itssocial andeconomic system
towards being more openandmarket-oriented andthusmore adapted tothe21stcentury. Moreover,
theGovernment ofJapan hasrecently compiled alarge-scale economic package, which webelieve
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willenable Japan torecover from thecurrent economic difficulties andwillcontribute tothestable
growth oftheAsian economies, aswellastothefurther development ofworld economy.
Itismuch tomyregret thatIcannot attend the50thAnniversary Meeting duetotheDiet
deliberations indispensable foranearly implementation ofthiseconomic package. Indeed, Iwould
liketoreaffirm unequivocally Japan'sstrong commitment tothemultilateral trading system andits
determination tocontinue tomake theutmost efforts inthisrespect.
Toclose, Iwould liketopaymyrespects totheGovernment oftheSwiss Confederation and
totheWTO Secretariat, ledbytheDirector-General Ruggiero, fortheirdedicated efforts tomake this
auspicious occasion agreatsuccess. Iamcertain thatthisMeeting willmark animportant steptowards
strengthening further themultilateral trading system.
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