Spring 2001

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Letter From The Publisher

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Time To Start Talking

The advent of the new administration in Washington has brought both new opportunities and new challenges for the Transatlantic relationship. On the positive side there are now better chances to move forward with a new round of international trade negotiations, the subject of articles by Hugo Paemen, Ransford Smith and Marietta Bernot, in this issue of European Affairs.

In our Leader In Focus section, Supachai Panitchpakdi, the next Director General of the World Trade Organization, argues that it will be easier to make the case for a new round, particularly among developing countries, if it can be demonstrated that trade liberalization creates more jobs.

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The Goal of Trade Must be to Create Jobs

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former Deputy Prime Minister of Thailand and Director-General Designate of the World Trade Organization (WTO)

One of the problems of the trade debate today is that it is only about trade. When you hear people discussing the benefits of free trade, or the reasons for a new round of world trade negotiations, they mostly emphasize the fact that trade liberalization leads to more trade.

People are still asking how much trade increased as a result of the last round of multilateral negotiations, the Uruguay Round, with the answers ranging from $60 billion to $150 billion a year.

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Document: Statement by Sergei B. Ivanov, Minister of Defense of the Russian Federation

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Statement at the 37th "Wehrkunde" Conference on International Security, "Global and Regional Security at the Beginning of the 21st Century," Munich, February 4, 2001


Since the dissolution of the Soviet Union in 1991, the United States and its European friends have sought to redefine their relationship while searching for a proper balance between security concerns and domestic imperatives. During this time, the United States and its European allies have also sought to strengthen the 50-year old North Atlantic Treaty Organization - the most powerful and successful alliance in history - given its fundamental importance to Transatlantic relations, and its rooting in shared histories, values, and vital interests.

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U.S. and Europe Need A Common Approach to Security Issues

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U.S. Senator (R-Tennessee)

Since the dissolution of the Soviet Union in 1991, the United States and its European friends have sought to redefine their relationship while searching for a proper balance between security concerns and domestic imperatives. During this time, the United States and its European allies have also sought to strengthen the 50-year old North Atlantic Treaty Organization - the most powerful and successful alliance in history - given its fundamental importance to Transatlantic relations, and its rooting in shared histories, values, and vital interests.

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Interview: European Development Bank Will Go Where It Is Needed

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Jean Lemierre
President, European Bank for Reconstruction and Development

Question: The EBRD has been considering major new investments in Russia, including possible loans to help liberalize the energy sector. How big are the Bank's operations in Russia?

Answer: Since the Bank's inception, it has altogether committed nearly $12.2 billion, which comes to about $54.15 billion if you add in the investments by the private sector that our activities have generated. Russia accounts for about 21 percent of the total. The Bank has always operated in Russia, but it originally concentrated its efforts on Central and Eastern Europe.

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