Global trade talks collapse

by UK Independent (reposted)

Mon, Jul 24, 2006 6:33AM

Global commerce talks at the World Trade Organisation in Geneva collapsed today as top powers failed to agree on steps towards liberalising trade in farm and manufactured goods.

The Indian Trade Minister Kamal Nath said the talks had been suspended and added that "it could take anywhere from months to years," to restart the negotiations. "This is a serious setback, a major setback," said Brazilian Foreign Minister Celso Amorim.

The meeting had been called by WTO chief Pascal Lamy with ministers from Australia, Brazil, the 25-nation European Union, India, Japan and the United States to try to re-energise the talks.

Leaders of the Group of Eight major industrialised countries reaffirmed their commitment to the talks at their summit in Russia last week, but that failed to translate into real negotiating action as officials said yesterday's meeting failed to generate the new movement hoped for after the pledges of support from the world's most powerful presidents and prime ministers.

More
http://news.independent.co.uk/world/politics/article1193962.ece

Support Independent Media

We are 100% volunteer and depend on your participation to sustain our efforts!