WTO should serve 3rd world interests
Regional, Economics, 5/28/2001

In his speech to the meeting of the G-15 ministers of finance and trade, Egyptian Minister of Finance and Foreign Trade Botruous Ghali said that world trade order needs reformation in a way that services the purposes of development in the third world countries. This requires the advanced world to reform its production structures to accept transfer of part of its industries to the third world in the framework of world free trade.

The minister added that the third world countries have a pressing influence within the WTO that was able to stop Seattle negotiations. 'Since then, we have not used this influence. Now, it is high time to capitalize on this power to push the organization forward through our cooperation,' Ghali noted.

He stressed the importance of inter-trade activities within the G-15 as it services the purposes of development adding that the group should organize regular meetings for activating inter-trade through exchange of expertise.

Moreover, Ghali said that the G15 ministers of finance and trade discussed future trends in trade, money and development and focused on exploiting the potentials of electronic commerce. The ministers recommended paying great attention to technology and communications transfer.

On his part, UNCTAD Secretary General said that Uruguay Round has resulted in many problems especially to the developing countries such as intellectual property and dumping. He added that many of these problems found no solutions particularly agriculture and labor. He called upon developing countries in Doha meeting to forward clear-cut suggestions instead of adopting a defensive position.

On the margin of the meeting, Ghali and his Indonesian counterpart inaugurated the Egyptian pavilion that encompasses products of 15 Egyptian companies. These products include furniture, ceramics, carpets, foods and pharmaceuticals as well as agricultural products.

Egypt has forwarded a project for cooperation between the members states of the G15 through setting up a technology center. This projects includes that establishment of a site on the Internet for the most important information, data and expertise related to information technology and communications.

Furthermore, the Egyptian production sector succeeded in concluding many contracts for exporting Egyptian products to the Indonesian market such as phosphate against facilitating access of Indonesian palm oil to Egypt. This is in addition to orange, dates, marble and granite.

There was also an agreement, on principle, on establishing a palm oil refinery in Egypt with an initial cost of US$ 25 million. The Egyptian party is expected to participate in this project with 10% for facilitating the building procedures. In the same field, the two parties agreed on exporting Egyptian phosphate to the Indonesian palm oil farms. Relevant study is in the make within the memorandum of understanding that will be submitted to the Egyptian party in preparation for final agreement and take off.

In the Pharmaceutical field, the Egyptian delegation met with the chairman of the Indonesian authority for medicine and food supervision with a view to getting acquainted with the procedures of registering pharmaceuticals in Indonesia. The chairman expressed his readiness to help the Egyptian pharmaceutical companies.

On the other hand, commercial counselor at the commercial representation office in Jakarta Mr. Ahmed Abbadi, said that an agreement was signed with the head of the Indonesia Cotton Consumer Union to import 1.5 and 60 thousand bales of medium and long staple Egyptian cotton respectively.

He added that within the increase of various Egyptian exports, negotiation are going on for exporting 200 Egyptian buses. This is in addition to exporting Egyptian marble valuing US$1.2 million annually.

"Recent statistics show that the Egyptian exports to Indonesia amounted to US$a3 million and trade exchange between the two countries hit US$220 million. Related studies showed that there is no barriers before Egyptian exports to the Indonesian market" according to the Egyptian Ambassador to Indonesia, Mr. Ezzat Saad.

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