UNCTAD calls for speedy resumption of WTO talks
Underlining the need to open up the markets of developed nations to the poorer countries, United Nations Conference on Trade and Development (UNCTAD) Secretary General Supachai Panitchpakdi has urged the speedy resumption of the Doha round of trad...
By PTI |
NEW YORK: Underlining the need to open up the markets of developed nations to the poorer countries, United Nations Conference on Trade and Development (UNCTAD) Secretary General Supachai Panitchpakdi has urged the speedy resumption of the Doha round of trade talks.
"The suspension of the talks hurts the world's poorest most acutely," Panitchpakdi told the governing body of UNCTAD.
"The prospects of developing countries for export-led growth and development have diminished with the suspension of the Doha Round," he said.
The WTO talks have been in limbo for months, partly over subsidies given by wealthy nations to their agricultural industries, tariffs and quotas, which allegedly shuts poorer agricultural countries out of the global market.
"The distortions caused by subsidies in world agricultural trade will persist at the current level, thereby jeopardizing the prospects of developing countries to generate additional export revenue and income from agricultural exports, including cotton," Panitchpakdi said.
But if the current round of negotiations concluded with a substantial development-oriented outcome, it could bring gains for economic growth and poverty alleviation, he added.
"The suspension of the talks hurts the world's poorest most acutely," Panitchpakdi told the governing body of UNCTAD.
"The prospects of developing countries for export-led growth and development have diminished with the suspension of the Doha Round," he said.
The WTO talks have been in limbo for months, partly over subsidies given by wealthy nations to their agricultural industries, tariffs and quotas, which allegedly shuts poorer agricultural countries out of the global market.
"The distortions caused by subsidies in world agricultural trade will persist at the current level, thereby jeopardizing the prospects of developing countries to generate additional export revenue and income from agricultural exports, including cotton," Panitchpakdi said.
But if the current round of negotiations concluded with a substantial development-oriented outcome, it could bring gains for economic growth and poverty alleviation, he added.
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