build a new factory in Goole, Yorkshire, (US$ billion) share (%) creating more than 300 jobs; Outward investment United...

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7
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Arius 3D Inc, the Canadian 3D scanning
France
173
15.0
specialist, which is to set up a 3D digital
United States
139
12.1
imaging centre in Dundee, creating 250 jobs;
Belgium and Luxembourg
83
7.2
and
Netherlands
73
6.3
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Hong Kong
63
5.5
Ryobi Aluminium Costing (UK) of Japan,
Spain
54
4.7
which is expanding its plant in Carrickfergus,
Germany
49
4.3
Northern Ireland, creating 76 new jobs.
Canada
44
3.8
Switzerland
40
3.5
European Union
773
67.2
International trade policy
World
1,150
100.0
The Department of Trade and Industry (DTI)
Inward investment
pursues the UK’s interest in international trade
United States
281
22.1
policy, working closely with EU partners and
Germany
176
13.8
drawing on the UK’s bilateral relations and
United Kingdom
130
10.2
membership of international organisations such as
Belgium and Luxembourg
87
6.8
the World Trade Organisation. The Common
Hong Kong
64
5.0
Commercial Policy co-ordinates the external trade
Canada
63
5.0
of all EU Member States. In consultation with
Netherlands
55
4.3
other departments, together with a wide range of
France
44
3.5
business, consumer and other civil society
China
41
3.2
interests, the DTI seeks to:
Spain
37
2.9
European Union
617
48.5
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create a framework for free and fair trade;
World
1,271
100.0
■
minimise barriers to the free movement of
Source: UNCTAD, World Investment Report 2001
goods, services and international investment
across the world;
365
Economic affairs
24 International trade and investment
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promote open, dynamic and sustainable
overdue in any Member State by the time of the
markets; and
Barcelona European Council in March 2002.
Heads of Government decided in Barcelona that
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ensure coherence between commercial,
this 1.5 per cent target should be retained, and
financial, environmental and social policies.
agreed in addition that all directives whose
implementation was more than two years overdue
European Union
should be addressed by the Thessalonika
The free movement of goods, people, services and
European Council in spring 2003.
capital is a fundamental principle of the EU, and
the basis of the Single European Market. In the
The framework for ensuring the even and effective
Government’s view, benefits of the Single Market
enforcement of Single Market rules involves
include:
encouraging co-operation between national
administrations, setting up contact points for
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a wider market for UK goods, comprising
businesses and citizens, and improving the
nearly 380 million consumers, and making
efficiency of the Commission’s complaints
up around 40 per cent of world trade;
procedure. In the UK, the DTI’s Action Single
Market ( www.dti.gov.uk/europe/asm) is a contact
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lower prices, brought about by greater
point for UK business and citizens and a first port
competition and liberalisation;
of call for similar units in other Member States
when Single Market problems arise. Initiatives for
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better consumer protection;
simplifying national and Community rules
include SLIM (Simpler Legislation for the Internal
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the sale of goods throughout the EU without
Market) and the European Business Test Panel,
expensive re-testing in every country, as a
which allows for consultation of business during
result of the harmonisation and mutual
the drafting stage of new legislation.
recognition of standards;
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a significant reduction in export bureaucracy
World Trade Organisation (WTO)
– in effect the Single Market is a domestic
The WTO ( www.wto.org) aims to promote an open market for European business; and
and liberal trading system, where barriers to free
trade – such as high import duties or subsidies –
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the right of UK citizens to work, study or
are minimised. It was established in 1995 (when it
retire in all other Member States – around
replaced the General Agreement on Tariffs and
750,000 Britons live in other EU countries.
Trade) and currently has a membership of 144
countries, with 28 negotiating to join. At the fourth
The European Commission set out its Internal
Ministerial Conference in Doha, Qatar, in
Market Strategy in 1999 and conducts an annual
November 2001, members agreed to accept China
review. The 2002 review, endorsed by the Internal
and Taiwan into the WTO. The Ministerial
Market, Consumer and Tourism Council, focuses
Declaration, the Doha Development Agenda, adds
on those target actions which have the most
new negotiations on industrial goods, the
significant contribution to make, and largely
environment, subsidies and anti-dumping to
reflects UK views on priorities for action to
existing ones on agriculture and services. More
improve the operation of the Single Market. These
negotiations are envisaged after two years’ study on