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NEWS STATEMENT FOR IMMEDIATE RELEASE CONTACT: Shannon Shoesmith November 15, 2001 CORN REFINERS PRAISE LAUNCH OF WORLD TRADE TALKS The Corn Refiners Association (CRA) praises the united efforts of ministers at the World Trade Organization's (WTO) 4th Ministerial Conference to successfully launch a new round of world trade talks. The commitment of WTO member countries to work toward phasing out export subsidies, significantly increasing market access and reducing trade-distorting domestic supports, is welcome news to the wet milling industry. CRA is also pleased that U.S. negotiators managed to preserve strong WTO rules on regulatory measures affecting trade. "The Corn Refiners Association greets the launch of these global trade talks with great enthusiasm," said CRA Chairman Jeffery T. Cook of Penford Corporation. "Our negotiators now have a strong forum in which they can work toward lowering trade barriers and removing trade-distorting practices. Moreover, the parameters of the negotiation should ensure that sound scientific evidence remains the only legitimate basis for health and safety regulations." In 2000, the U.S. corn wet milling industry exported 7.2 million metric tons of products worth approximately $1.2 billion. Exports accounted for nearly 30 percent of total product shipments last year. With the rapid expansion of global food demand and further liberalization of agricultural trade, opportunities for subsequent growth in exports are real. Editor's Note: The text of the Ministerial Declaration is available at http://www-heva.wto-ministerial.org/english/thewto_e/minist_e/min01_e/mindecl_e.pdf. For more information on the corn refining industry, visit the Corn Capsules newsletter page. 
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