SAK's Peter J. Boldt: For wage earners and developing countries multilateral trade system is better than bilateral

(Helsinki 12.12.2005 – Juhani Artto) “If the WTO ministerial conference would again fail it could lead to disintegration of the present trade system,” says Peter J. Boldt, the trade expert of the Central Organisation of Finnish Trade Unions, SAK. That again would mean uncontrolled growth of protectionism, or at least significant spreading of insecurity in the international economy, Boldt outlines.

“Consequently, trade would decrease and economic growth would slow down, especially in small and open economies, such as Finland.”

That is roughly the logic why the Finnish trade union movement is in favour of preserving and developing the present multilateral trade system, based on the WTO agreements. “The option would be getting more and more bilateral agreements. That option would be worse for the wage and salary earners and the developing countries”, Boldt emphasises.

“In a world of bilateral agreements the major countries would still more strengthen their power.”

Peter J. Boldt participates in this week’s WTO ministerial conference in Hong Kong as a member of the Finnish delegation. You can read the whole interview with Boldt in Trade Union News from Finland.