6/8/2004
Breakthrough In Doha Trade Talks Will Benefit Rich And Poor

Last weekend members of the World Trade Organisation adopted a number of key decisions to end export subsidies and reduce import tariffs thus breaking the deadlock in which the current round of trade negotiations, launched in Doha, Qatar in 2001, had been mired. The talks ran into an impasse over rich countries' export subsidies for their agricultural products, which developing countries said distorted the market for their own primary products and broke down last September in Cancun, Mexico.

Speaking from Geneva after agreement had been reached, EU Trade Commissioner Pascal Lamy said: "The Doha Development Agenda is about making trade work for all, and delivering growth and development. After the setback in Cancun, today's decision shows that the multilateral trading system is alive and kicking. But we have only walked half of the way: we need now to rapidly conclude this round, thus bringing good news to a world economy in need of stimulus." The Commissioner said that the agreement was a demonstration that when Europe stood united it could punch its weight to the benefit of the entire trading community, especially developing countries.

EU Agriculture Commissioner Franz Fischler said: “Today we got a deal which will boost the world economy, farm trade and the opportunities for poorer countries. This agreement also ensures that other rich countries will follow the EU on its reform path. The EU’s reformed farm policy will not be called into question. Now, EU farmers have a clear perspective, developing countries will see better market access and less unfair competition.”

In the months ahead WTO members will develop the agreed framework into concrete, detailed and specific commitments with a view to completing the Round as soon as possible. The next WTO Ministerial will take place in Hong Kong in December 2005.