IRstuff,
I don't know what a "PE Code" is.
In the US each state has engineering practice laws that govern the practice of...engineering. These only apply to the practice within the states and I'm sure various countries have similar statutes.
EddyC,
The reason that there is an industry exemption is, I think, due to the fact that engineers working within a company that produces objects for sale, such as vehicles, equipment, tools, machinery, etc., all sell those objects to buyers and such objects usually carry some form of warranty, UL testing or other such qualifiers that protect the public. But you are right - how could you manage engineer X when he/she designs a motor and it gets sold in a country other than the source country? Tough to do unless we get ourselves a ONE WORLD GOV'T. gasp.
I'm a licensed PE and SE and feel that engineers have lost a LOT of ground over the years in terms of our worth, public respect, value to society, etc. This may be due to external causes or our own fault, I don't know.
But I don't believe getting every dang "engineer" licensed, even in industrial cases where they design widgits, would help our engineering profession. I don't know what will help it actually, but licensing everyone doesn't seem to me to do much other than cause a lot of problems.