The Naples Summit: Delors dilutes Clinton plan
Monday 11 July 1994
The plan was dubbed by American officials 'Open Markets 2000' and aimed to step up pressure on Japan to open its markets further. But Mr Clinton was forced to back down after Jacques Delors, the outgoing European Commission President, said the scheme would cause 'enormous problems in Europe.' France said it was important to ratify the Gatt agreement first. The summiteers agreed to reach parliamentary ratification of the Gatt accord by 1 January next year. Mr Clinton's initiative was watered down in the communique to read 'We are resolved to continue the momentum of trade liberalisation' - especially in investment and information technology. In an acknowledging of Franco-US concern over Asian goods produced by 'cheap' labour, the seven called for study of the implications of labour laws on trade policies.
The summit endorsed the findings of the jobs study by the Organisation for Economic Co-operation and Development (OECD). Aimed at reducing the 24 million jobless in the G7 countries, these findings include increased investment in training and education and developing a culture of 'lifetime learning' to increase the ability to change jobs, reducing red tape burdens on business, making labour markets more flexible, and reforming benefit systems so they encourage the search for work.
The summit agreed to help the poorest countries become more active trading partners. It endorsed Mr Major's Trinidad Terms initiative, to reduce the debt of poor countries by as much as two-thirds where economic reforms are being pursued.
- 1 President of Argentina adopts Jewish godson to 'stop him turning into a werewolf'
- 2 Doctors remove 80 teeth from boy's jaw
- 3 The 'Black Museum': After 150 years, public set to see exhibits from police’s grisly crime museum
- 5 Sir Winston Churchill’s family begged him not to convert to Islam, letter reveals
President of Argentina adopts Jewish godson to 'stop him turning into a werewolf'
The 'Black Museum': After 150 years, public set to see exhibits from police’s grisly crime museum
Downfall of Dustin 'Screech' Diamond, the 'Saved By The Bell' star charged with bar stabbing
Syrian teenager Usaid Barho reveals how he escaped from Isis using a suicide vest
Sir Winston Churchill’s family begged him not to convert to Islam, letter reveals
Millions of Britons struggling to feed themselves and facing malnourishment
British actor Idris Elba cannot star as James Bond because he is black, says shock jock Rush Limbaugh
Ukip member gets into Christmas spirit with Union Flag plea to Santa 'for our country back'
Germany anti-Islam protests: 17,000 march on Dresden against 'Islamification of the West'
Nigel Farage: Ukip leader named 'Briton of the year' by The Times
Immigrants make UK racist, says Ukip councillor Trevor Shonk
£25000 - £30000 per annum: Recruitment Genius: A Maintenance Assistant is requ...
£32000 - £40000 per annum: Recruitment Genius: A Business Manager is required ...
£45000 - £55000 per annum: Recruitment Genius: This is an exciting opportunity...
£20000 per annum: Recruitment Genius: Panel Wireman required for small electro...