WORLD TRADE WT/GC(95)/ST/12
30January 1996
ORGANIZATION(96-0296)
Original: English GENERAL COUNCIL
13and15December 1995
KOREA
Statement byH.E. Mr.Seung Ho
Ambassador, Permanent Representative
Reflection isaDecember ritual inmany aspects oflife.ThelifeoftheWTO isnodifferent.
Reflecting backtotheendof1994, weshared asense ofaccomplishment inhaving strengthened the
multilateral trading system byadapting ittothechanging world economy. Indeed, theconclusion of
seven years oftough negotiations andtheendorsement oftheresults merited afeeling ofsuccess.
However, arules-based system suchasoursisonlygood when itisfullyimplemented. In
these terms, wecertainly gotofftoagoodstartin1995. Asdulyreflected intheDirector-General 's
report, theachievements made during thisyeararebynomeans negligible. Theresults thusfarare
aclear signofsincere work andthefactthatno-one hasrested onthelaurels oftheprevious seven
years.
Nonetheless,aswithamountainclimberwhohadreachedamonumentalsummitonlytodiscover
higher peaks which remained tobescaled, wehavefound there isstillmore ground tocover.
Housekeeping work iscertainly anessential taskduring thebeginning years ofanygreat
organization. TheWTO cannot beanexception. However, wemust askourselves whether ornot
toomuch timewasdedicated toprocedural, organizational, andinstitutional matters during 1995.
Amore efficient approach could havebeenpursued.
Asecond important observation looking backon1995concerns thecredibility ofthemultilateral
trading system, which depends ontheclearwillingness oftheMembers toabide bytheletter andspirit
oftherules. Inthisline,weshould review whether some ofour1995behaviour undercut thecredibility
ofthesystem inanyway.
Anticipation isanother ritual ofDecember. During 1996, ongoing work must becontinued
withrenewed vigour, including thesuccessful conclusion ofsome ofthekeyissues intheservices
negotiations. Furthermore, afoundation mustbelaidfortheconsideration ofemerging issues such
astheenvironment, competition andinvestment, toname afew.
Another emerging issueisregionalism. TheDirector-General 'sreport correctly noted theneed
toensure thatregionalism remains openandcompatible withmultilateralism. Inthecourse of1995,
wewere encouraged bythebroadening consensus thatregionalism must beproperly addressed and
thesubsequent conclusion toestablish acommittee dealing withthisissue. Korea isready togivefull
support totheestablishment andwork ofsuchacommittee during thenextyear.
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Attention should alsobedrawn tothefactthatwearehalfway tothefirstMinisterial Conference
oftheWTO, which istobeheldinSingapore attheendofnextyear. Awaiting Singapore, Members
arenowcalled upon toconsolidate andspeed uptheprogress inimplementing theUruguay Round
commitments.
Last, butnotleast, theDirector-General 'sreport hascorrectly identified thelinkage between
thefulfilment ofnotification requirements andtheimplementation ofsubstantive commitments. In
thisline,Iassure youthatKorea willcontinue todoitsutmost toconvert thepromise andprospects
oftheUruguay Round intoreality. Ourgoalremains theconsolidation anddevelopment ofthe
multilateral trading system towards thewelfare maximization ofeachandevery Member country.