New global trade deal still possible by end-2008: Lamy
Wednesday, 13 August 2008
NEW DELHI, Aug 12 (Reuters): A new global trade deal is still possible by the end of this year despite last month's collapse of talks, the World Trade Organisation's (WTO) chief said Tuesday.
Talks on a pact ended in July after the United States and India refused to compromise over a proposed "special safeguard mechanism", which would enable developing countries to protect poor farmers by raising tariffs to counter a surge in subsidised imports.
Commerce and Industry Minister Kamal Nath has already said the collapse should be treated as a pause rather than a breakdown and Monday the WTO's farm mediator called for negotiations to resume soon.
"The good news is that there may be still a possibility to move this forward, and conclude these negotiations within the timeframe which all the WTO members had agreed since last year, that is end-2008," Director-General Pascal Lamy said in the Indian capital.
Ministers from about 30 WTO members met in Geneva at the end of July seeking a breakthrough in talks in agriculture and industrial goods, the core areas of the WTO's Doha round to open up world trade, launched in late 2001.
But the United States said India's demand for an easily triggered safeguard to protect poor farmers would allow developing countries to hike tariffs above currently bound levels in response to normal trade growth, rather than a sudden surge of imports.
Talks on a pact ended in July after the United States and India refused to compromise over a proposed "special safeguard mechanism", which would enable developing countries to protect poor farmers by raising tariffs to counter a surge in subsidised imports.
Commerce and Industry Minister Kamal Nath has already said the collapse should be treated as a pause rather than a breakdown and Monday the WTO's farm mediator called for negotiations to resume soon.
"The good news is that there may be still a possibility to move this forward, and conclude these negotiations within the timeframe which all the WTO members had agreed since last year, that is end-2008," Director-General Pascal Lamy said in the Indian capital.
Ministers from about 30 WTO members met in Geneva at the end of July seeking a breakthrough in talks in agriculture and industrial goods, the core areas of the WTO's Doha round to open up world trade, launched in late 2001.
But the United States said India's demand for an easily triggered safeguard to protect poor farmers would allow developing countries to hike tariffs above currently bound levels in response to normal trade growth, rather than a sudden surge of imports.