Opening negotiations in Geneva, ministers representing members states of the World Trade Organization argued that a Doha Round deal is badly needed because of economic uncertainties.
They promised to strive to settle their differences on blueprint agreements, or 'modalities' in agriculture and industrial products, provided the outcome is balanced.
Around 30 ministers spoke in Monday morning's meeting of the WTO’s full membership of 152.
Several speakers picked up a number of themes introduced by Director-General Pascal Lamy at the start of the meeting. He spoke of the difficult task ahead of them, the need to conclude the Doha Round in order to stimulate and stabilize the world economy, and the need for WTO members to make an effort as a team to reach agreement.
Lamy stated that: “Establishing modalities in agriculture and NAMA [non-agricultural market access] does not mean that the negotiations on these two issues are over. Let me again stress that the establishment of modalities is, instead, a necessary stage to allow us to proceed to the preparation of schedules [ie, each country’s tables showing cuts in tariffs and subsidies and other details], and to accelerate the negotiations in the other areas.”
The “uphill journey” requires “patience and determination” but agreement on this major step in the negotiations is within reach, he said.
“I can think of no stronger spur for our action than the threats which are facing the world economy across several fronts, including rises in food prices and energy prices and financial market turbulences. There is widespread recognition that a balanced outcome of the Doha Round could in these circumstances provide a strong push to stimulate economic growth, providing better prospects for development and ensuring a stable and more predictable trading system,” the WTO chief added.
He compared the task to climbing a mountain, observing that:
“The only way to reach the top is understanding each others’ interests and limitations.”
.
Network Tweets
Network BlogsContent
provided by
|
Archive | Resources | Partners | Site Map | Links | Newsletter Archive | Contact | RSS Feeds | About | Syndication | Advertising & Marketing | Recruitment | Terms & Conditions | Privacy & Cookies
Copyright © 2012 - All Rights Reserved - Tax-News.com
IMPORTANT NOTICE: Tax-News.com has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments.
Write a comment