Pacific rim states push to revive WTO talks
Pacific rim trade ministers pushed for a revival of stalled world trade talks yesterday, but committed themselves to work towards setting up their own trade bloc if a global deal fails. Ministers from the 21-member Asia Pacific Economic Cooperation...
Pacific rim trade ministers pushed for a revival of stalled world trade talks yesterday, but committed themselves to work towards setting up their own trade bloc if a global deal fails.
Ministers from the 21-member Asia Pacific Economic Cooperation (Apec) group agreed that a successful conclusion to the Doha round of talks, which aim to free up world trade, remained the best way to promote economic development.
"All of us are of one mind to really get the talks moving forward in the months ahead," Malaysian Trade and Industry Minister Rafidah Aziz said at the end of a two-day meeting in the Australian city of Cairns.
The World Trade Organisation's (WTO) latest round of trade negotiations was launched in Qatar's capital, Doha, nearly six years ago with the aim of freeing up world trade, boosting global growth and lifting millions of people out of poverty.
But the future of the Doha round is in serious doubt after G4 talks between the US, the EU, Brazil and India collapsed over how much developing nations should open up to farm and manufactured imports, and how much Europe and the US support their farmers.
The US has warned that a successful Doha deal could be delayed several years if there is no progress by the end of this year.
But Australian Trade Minister Warren Truss, who chaired the Apec meeting, ruled out using Apec as a WTO negotiating block, saying the future of the Doha round now relied on multinational negotiations through the WTO in Geneva.
"I don't imagine we envision setting up any more Gs," Mr Truss said. "There will be no G-Apec."
While Apec ministers strongly supported reviving the Doha talks, there were major differences between ministers in Cairns.
Mexico's undersecretary for trade negotiations, Beatriz Leycegui Gardoqui, said she had hoped the Apec meeting would offer stronger support for a middle-ground proposal proposed by Mexico in Geneva after the G4 talks collapsed.