USCIB APPLAUDS LANDMARK

WTO AGREEMENT ON BASIC TELECOMMUNICATIONS

Geneva, February 15, 1997 -- The U.S. Council for International Business (USCIB) applauds the landmark agreement that has been reached today to include basic telecommunications services in the World Trade Organization (WTO) Agreement on Basic Telecommunications, setting a new standard for multinational trade agreements.  Over sixty countries representing more than 95% of the telecommunications markets of WTO member countries have submitted offers, some providing significant access to their markets, and have agreed to do so subject to a set of regulatory principles.

“Such a sweeping agreement was incomprehensible even five years ago,” said Richard McCormick, Chairman and Chief Executive Officer of U S WEST and Chairman of the USCIB.  The efforts of our trade representatives will provide “immediate and tangible benefits for the U.S. economy and for U.S. companies who do business overseas.” 

Abraham Katz, President of the USCIB, added “We believe this agreement will significantly increase the speed with which competition is introduced in telecommunications markets.  Business, consumers and national economies will all realize the benefits of that competition.”

Mr. McCormick and Mr. Katz gave high marks to the entire U.S. negotiating team, and in particular praised the way in which U.S. industry was consulted and participated in each step of the process. 

“Acting U.S. Trade Representative, Ambassador Charlene Barshefsky, Federal Communications Chairman Reed Hundt, Deputy USTR Jeffrey Lang, and their colleagues took the time to understand the issues that were important to U.S. business and consumers, and fought hard to ensure that these interests were reflected in the commitments that have been made,” said Mr. Katz.

The U.S. Council advances the global interests of American business both at home and abroad.  It is the American affiliate of the International Chamber of Commerce (ICC), the Business and Industry Advisory Committee (BIAC) to the OECD, and the International Organization of Employers (IOE).  As such, it officially represents U.S. business positions in the main intergovernmental bodies, and vis-à-vis foreign business communities and their governments.

The USCIB membership includes virtually all constituencies with an interest in the liberalization of basic telecommunications services including business users, carriers of local, long distance and international services, resellers, satellite companies, cellular and mobile service providers, and manufacturers.

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