Summit Leaders Call on Transatlantic Business Dialogue

to Engage in South East Europe Recovery and Trade Dispute "EarlyWarning System" Bonn, Germany (PROTEXT) - Today at the EU-U.S. Summit, GermanChancellor Schroeder, U.S. President Clinton and EuropeanCommission President Santer requested that the TransatlanticBusiness Dialogue (TABD), an informal business-led process,provide private sector input to the recovery plan for South EastEurope and early warning to avoid transatlantic trade disputes. The TABD Co-Chairs, Rick Thoman (President and CEO of XeroxCorporation) and Jerome Monod (Chairman of the Supervisory Boardof Suez Lyonnaise des Eaux), looked forward to working with thegovernments on these initiatives. "Through engagement of the U.S. and EU business communities,the TABD can provide detailed recommendations on what publicpolicy initiatives would best encourage private investment in theSouth East Europe region," said Thoman. Responding to calls for an early warning system, Monod said"Trade disputes damage confidence and increase uncertainty indoing business. We would like to work with the EU and U.S.administrations to develop an early warning system that improvescommunication, and promotes solutions not conflict." Additionally, on behalf of the U.S. and EU businesscommunities, the TABD Chairs presented to the leaders a widevariety of recommendations to improve transatlantic trade andinvestment. The recommendations focused on positive, constructivesolutions to encourage increased transatlantic economic activity. Underscoring one of the many TABD recommendations for 1999,Mr. Thoman said "We hope that the U.S. and EU regulators succeedin adopting a global accountancy standard that increasestransparency and certainty in the world economy while maintaininga high standard for fiscal accountability." The TABD Chairs presented their 1999 Mid Year Report to theSummit principals that assesses progress made by governments onexisting joint business community recommendations, and thatoutlines new policy deliverables for 1999. The TABD expectsconcrete deliverables from the forthcoming WTO Ministerial,including the passage of the Information Technology Agreement(ITA) II; agreement on a permanent standstill on customs dutiesfor electronic transactions; and WTO support for a business-ledframework for E-commerce. The report also includes proposals thatpromotes industry-led development of Third Generation Wireless(3G), encourages self-regulatory approaches to data privacy, andsupports the government's efforts on a bio-tech Pilot Project. Anexecutive summary and complete version of the report areavailable at: www.tabd.com The TABD, a unique business-led forum launched by the EuropeanCommission and United States Government in 1995, will host itsannual CEO-level conference on October 29-30 in Berlin to spurimplementation of existing recommendations and to formulate newproposals for trade progress. The TABD seeks to increasetransatlantic trade and investment opportunities through theremoval of costly inefficiencies from excessive regulation,duplication and differences in the EU and US regulatory systemsand procedures. ots Original Text Service: TransatlanticBusiness Dialogue Internet: http://www.newsaktuell.de Contact:Chris Duffy, 0032-2-231-1728, or Jeff Werner (USA) 202-414-1293,both of Transatlantic Business Dialogue Web site:http://www.tabd.com

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