AFP
WTO gets revised texts on agriculture and industrial products
Friday July 11, 05:49 AM
GENEVA (AFP) - The World Trade Organisation on Thursday published revised texts intended to be the basis of negotiations when ministers meet here later this month in the hope of hammering out a long-stalled global trade deal.
"These revised texts set the stage for a decisive moment in the Doha round," said WTO director-general Pascal Lamy.
Ministers from about 30 key countries are due to meet in Geneva during the week of July 21 for a series of make-or-break meetings in a last ditch attempt to agree on a global trade deal in the Doha Round.
The Round, which started at the end of 2001 in the Qatar capital, aims to boost international commerce by removing trade barriers and subsidies but a deal has so far proved elusive as countries are reluctant to open up their markets or reduce financial support to farmers.
The latest texts were the third version texts proposed by the WTO trade negotiator on agriculture, Crawford Falconer, and his counterpart on industrial products, Don Stephenson.
Lamy noted that ministers meeting here would need "negotiating documents which are clear and precise as they consider the complex issues of agriculture and industrial goods trade.
"These texts go a very long way in that direction. These negotiations have been long and tough but the prize awaiting us should we reach agreement is worth the effort," he added.
Referring to the new texts, the European Union's spokesman for trade Peter Power said "positive steps have been made ... but there are important gaps that still need to be bridged."
Power said the EU remained committed to the negotiation but that the bloc needs "serious efforts from our negotiating partners to reach a balanced agreement."
Meanwhile, his US counterpart Gretchen Hamel reiterated Washington's commitment to a deal and said the US would be reviewing the texts in the coming days.
"The US is ready and willing to make our contribution. It's time the world's largest and fastest growing economies make market-opening contributions commensurate with their increasing participation and role in the world economy," Hamel said.
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