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Source: www.asiaecon.org |


WTO is reaching a conclusion of talks about new global trade pact. The negotiation is called Doha Development Round or Doha Development Agenda (DDA).

WTO is reaching a conclusion of talks about new global trade pact. The negotiation is called Doha Development Round or Doha Development Agenda (DDA).

It started in November 2001 with objective to lower trade barriers in the world, which makes nations to increase trade worldwide.

For several years World Trade Organization members states have struggled to overcome their differences during negotiations for the Doha Development Round, a pact that would see rich nations sacrifice their agricultural subsidies and import tariffs in exchange for more access to markets in developing nations. Negotiations on the agreement collapsed in July last year after India and the United States clashed over the capacity of poor nations to raise tariffs and protect vulnerable industries when agricultural imports surged.

WTO Director General Pascal Lamy said that India and the United States “gave a clear signal that they want to get things up.“Lamy said he is hopeful the round could be concluded some time in 2010.

At this time, trade representative leaders of US and India agreed to “reset” the stalled Doha Round of trade liberalization talks during a bilateral meeting at the conference of agricultural exporters in Indonesia. These two countries whose differences were central to the breakdown of the Doha Round almost a year ago.

Australia’s trade minister Simon Crean says it shows a determination to succeed.“This wasn’t just a dialog amongst ourselves,” he said. “It was an engagement with people who wanted to come, to talk about the process forward and committed to a process going forward and given the criticality of the US and India to helping us solve this, this was a huge breakthrough.”

“We had not had that clear signal of ‘reset’ until now. What I got from here is that ... yes, we should conclude this by 2010,” the World Trade Organization (WTO) Chief told reporters after three days of trade talks on Bali island.

US trade Representative Ron Kirk, the former Dallas mayor who was appointed by President Barack Obama in March, met the new Indian trade minister, Anand Sharma, for the first time on Monday. He said that the meeting with new U.S. trade Representative Ron Kirk had been “very positive”. “There’s a shared and expressed commitment to take the negotiations forward and to work together for the resumption of the negotiations… to see the successful conclusion of the Doha Round,” Sharma added.

Ron Kirk told journalists in Bali “We want to encourage our representatives in Geneva to try to engage in a more robust dialog,” Kirk met trade ministers from the 19-nation Cairns Group as well as India and the U.S. “We are eager to engage our colleagues.”

The Cairns Group, whose nations account for a quarter of the world’s farm trade, asked WTO members to refrain from levying protectionist tariffs on agricultural products amid the worst global slump since the Great Depression.

“Even measures that are applied within WTO commitments can still have significant protectionist effect,” the group said in a statement today. “At this critical time in the global economic downturn, it’s essential we guard against increased protectionism in agriculture.”

Indonesian Finance Minister Sri Mulyani Indrawati said the global economic crisis was putting pressure on countries to protect their economies while at the same time underlining the need for greater trade liberalization.

“Leaders should show their commitment,” she told reporters.“Everybody knows the United States and India are the most important players in terms of setting the tone and providing how far the (Doha) agreement can go.”

Source: www.asiaecon.org |

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