The multilateral approach of world trade talks must "maintain its focal role", and not give way to bilateral or regional deals, said European Parliament Trade Committee members and 270 other members of parliaments across the world in a joint statement approved at the Parliamentary Conference on the World Trade Organization (PCWTO), held in parallel to the WTO 9th Ministerial Conference in Bali on 2 and 5 December.
The role and responsibilities of parliamentarians scrutinizing world trade talks were stressed at the opening of the World Trade Organisation (WTO) Parliamentary Conference in Bali, Indonesia on Monday by MEP and conference co-chair Vital Moreira. His co-chair, Phairoj Tanbanjong of the Thai parliament, stressed that multilateral trade must be governed by ethical criteria such as equity, sustainability and transparency. The conference is taking place on 2 and 5 December.
A draft law that could bar non-EU firms from bidding for public procurement contracts in the EU unless their home countries allow EU firms reciprocal access to their public procurement markets was endorsed by the International Trade Committee on Thursday. The proposed “international public procurement instrument” should strengthen the EU’s hand in trade talks and help EU firms wishing to bid for third country contracts.