Concluding the review of the EU's trade policy in Geneva, the WTO recognised the leading role played by the EU in launching a comprehensive round of multilateral trade negotiations as well as its achievements in liberalising its economy notably through work to complete the Single Market and the introduction of the Euro.

WTO praises EU's leading role in working towards the launch of a new multilateral trade Round

3. The Committee further reaffirms that, in order to achieve the above objective, the EU must, within the framework of existing obligations, use all the trade policy instruments at its disposal such as WTO consultations and dispute settlement procedures, the trade barriers Regulation, consultations and dispute settlement procedures under bilateral agreements, as well as multilateral trade negotiations, including WTO accession negotiations, and bilateral trade negotiations.

Whereas, under the Uruguay Round of multilateral trade negotiations, the Community has negotiated various agreements (hereinafter referred to as the 'GATT agreements`); whereas several of those agreements concern agriculture, in particular the Agreement on Agriculture (hereinafter referred to as 'the Agreement`); whereas the concessions relating to domestic support can be complied with by setting prices and aid at a suitable level and specific provisions need not be laid down on this subject; whereas the Agreement lays down a six-year timetable for the extension of access to the Community market for agricultural products f ...[+++]rom third countries on the one hand and the gradual reduction in support granted by the Community on exports of agricultural products on the other hand; whereas the agricultural legislation on trade with third countries should be adapted accordingly;

Whereas the multilateral trade negotiations opened under the GATT, pursuant to the Declaration by Ministers adopted at Punta del Este on 20 September 1986, have led to the Final Act embodying the results of the Uruguay Round of multilateral trade negotiations;

With the approach of the decisive deadlines for the Uruguay Round multilateral trade negotiations, the conclusion of which is scheduled for this December in Brussels, the Commission is organizing wide-ranging consultations with representatives of the business world on 4 and 5 April.