26 May, 1999The IMF's shipbuilding meeting issued a unanimous statement in Tokyo on May 18, 1999.
GENEVA/TOKYO: At this week's IMF Asian Shipbuilding Working Party, in Tokyo, a unanimously-agreed joint statement was issued. The group called for increased environmental protection, the elimination of sub-standard shipping, improved working conditions in ship-scrapping, research & development into new types of ships and other marine-related projects, and improved labour/management relations leading to increased job security and social status for shipyard workers. They also opposed any further increases in shipbuilding capacity and are calling for a world conference to deal with health and safety in the shipbuilding industry. The Working Party reaffirmed its support for the OECD Agreement, which seeks to eliminate state subsidies in this sector, despite the U.S. government's refusal to ratify it.