Media release 

Australian Minister for Trade, Mark Vaile

Tuesday, May 29, 2000
MVT58/2000

WTO Services Negotiations

Trade Minister, Mark Vaile, has welcomed agreement on a work program for negotiations on trade in services in the World Trade Organisation (WTO).

Mr Vaile was commenting on the agreement reached in the WTO Council for Trade in Services on a 'roadmap' for the first phase of the services negotiations lasting until March 2001. The roadmap was agreed on Friday, May 26.

"Australia's services industries are a key part of the Australian economy accounting for four out of every five jobs, two-thirds of our GDP and contributing to nearly a quarter of Australia's exports," Mr Vaile said.

"They cover a diverse range of sectors including banking and insurance, telecommunications, transport, tourism and professional services.

"The establishment of a negotiating work program in the WTO, based on an initial Australian-Singaporean draft, will allow us to get to work on obtaining a better deal for Australian services exporters'', Mr Vaile said.

"Overseas trade barriers in a range of services sectors hinder the growth of Australian companies overseas. The WTO negotiations are squarely aimed at getting these barriers removed."

Mr Vaile said Australia would continue to work closely and productively with like minded countries in the negotiations to ensure better market access for Australian companies.