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NEWS: 42-countries agree to widen access to government contracts

The Associated Press reports, “Trade officials say the United States, European Union, Canada, Japan and other countries have agreed after 14 years of talks to give foreign companies greater access to each others’ government procurement contracts. …European Union officials said the agreement was reached after the 27-nation EU and Japan ironed out remaining differences early Thursday. …As part of the 42-nation deal Japan will allow foreign companies to bid for contracts in the $100-million reconstruction of regions hit by this year’s tsunami. …(The new agreement) generally applies to goods and services over $200,000 and construction projects starting at about $5 million. But participation by WTO members is optional.”

More soon.