WTO breakthrough still possible: EU president
Doha Round negotiations on reducing barriers to commerce can still be revived, EU Commission President Jose Manuel Barroso said on Monday after WTO talks failed to break an enduring deadlock.
By Agencies |
HELSINKI: Doha Round negotiations on reducing barriers to commerce can still be revived, EU Commission President Jose Manuel Barroso said on Monday after WTO talks failed to break an enduring deadlock.
Three days of meetings into the weekend in Geneva at the 149-nation World Trade Organisation left it no closer to sealing a landmark treaty by the end of this year. "We believe it is still possible to have a success of Doha cycle if all parties (...) make some efforts," Barroso said.
WTO heavyweights, notably Brazil, the European Union, India and the United States, failed to settle bitter arguments, especially over agriculture subsidies.
"Of course we were disappointed with the outcome of the meeting in Geneva," said Barroso who was in Helsinki to mark the beginning of the Finnish EU presidency. "Trying to put it on a positive way, I think that some additionnal pressure comes out now from this disappointment because now it is clear that all parties have to do some more efforts," he said.
Doha talks were originally meant to wrap up in 2004, but the end-date was later pushed back to December 2006.
ADVERTISEMENT
Negotiators have now missed two targets this year for an interim deal on the mathematics of cuts in tariffs and customs duties, a crucial step towards a treaty. The new goal is the end of July, but observers question even that.Download
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
