Geneva, 15 June 1999

NEW INITIATIVES TO BOOST PRIVATE-SECTOR DEVELOPMENT

IN THE TRANSITION ECONOMIES

A number of significant decisions to support private-sector development in transition economies were made during last week's annual session of the United Nations Economic Commission for Europe's Committee for Trade, Industry and Enterprise Development (8-10 June).

• New programme approved to support the private sector in transition economies and of an advisory group to assist these countries with the protection and implementation of intellectual property rights*
• Network of national contact organizations in the region created for distributing and promoting the Committee's recommendations, norms and standards. Many potential users of the Committee's work can be found among the private sector, especially among small and medium-sized enterprises. The United Nations, however, does not have the resources to fully promote its work to these groups. Therefore, the Committee plans to do this by cooperating with national organizations that work with the private sector on a regular basis.
• Advisory Group established to examine the problems in implementing commercial arbitration in transition economies as well as possible amendments to the UN/ECE Convention on International Commercial Arbitration. For investors, commercial arbitration is an alternative method of dispute resolution which they often consider to be more efficient and impartial than national court systems. Therefore, to encourage greater foreign direct investment it is important to improve the implementation for arbitration in countries in transition where the investment risks are frequently perceived to be higher.
• Group established to develop proposals for reducing non-tariff barriers to trade in the region through the referencing of international standards in technical regulations governing international trade. This would be an alternative to the current practice in many countries of including detailed technical specifications in such regulations.
• New series of UN/ECE Trade and Investment Guides launched with the publication of the first volume, Trade Finance in Transition Economies - Practical Ways to Support Exports and Imports. This Guide provides important information for organizations in transition economies on how to manage and minimize the financial risks associated with international trading.
• Forum announced on the "Business Implications of New Trends in Competition Law with Reference to State Subsidies" , to be held in Brno, Czech Republic, at the end of 1999 under the auspices of the UN/ECE Working Party on International Legal and Commercial Practice.
• Round table decided for the June 2000 Committee meeting on "Electronic Commerce and its Implications for International Trade in the UN/ECE Region". This round table will take into particular consideration the implications of electronic commerce for transition economies and will be a major event, with input from all of the major international organizations working in this area.

For further information on the above or on the activities of the Committee for Trade, Industry and Enterprise Development, please contact:

Ms. Virginia Cram-Martos

Trade Division

United Nations Economic Commission for Europe

Palais des Nations

CH-1211 Geneva 10, Switzerland

Tel. +41 22 317 2745

Fax +41 22 917 0037

E-mail:virginia.cram-martos@unece.org

* Details regarding these first two initiatives have been issued in other press releases which can be obtained either from the UN/ECE Public Information office or from the contact person given above.