CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. WTO Members Failing To Reach Global Trade Deal

WTO Members Failing To Reach Global Trade Deal

by Mike Godfrey, Tax-News.com, New York

02 December 2013


The Director-General of the World Trade Organization (WTO), Roberto Azevedo, has said that negotiations on the first global trade deal in the organization's history are on the brink of collapse.

The WTO members have come "very close to fully agreed texts," Azevedo said, but "over the last few days, we stopped making the tough political calls."

Talks on the global trade deal, which could potentially add nearly USD1 trillion to the world economy, began in 2001.

However, the failure of the WTO members to produce the text of a global agreement ahead of a meeting of trade ministers in Bali, Indonesia next month means a deal is unlikely to be reached.

Azevedo warned that a "failure in Bali will have grave consequences for the multilateral trading system."

He went on to say: "We will fail not only the WTO and multilateralism. We will also fail our constituencies at large, the business community and, above all, the most vulnerable among us. We will fail the poor worldwide. Not a single human being living in poverty anywhere in the world will be better off if we fail in Bali."

TAGS: business | World Trade Organisation (WTO) | trade

To see today's news, click here.

 















Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »



Stay Updated

Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.


To manage your mailing list preferences, please click here »