Australia wants G20 to focus more on trade after WTO deal collapse
Published on Aug 4, 2014 3:29 PM
SINGAPORE (REUTERS) - Australia is urging the Group of 20 advanced and emerging countries to put more emphasis on boosting global trade in their proposals for economic growth, particularly in the wake of last week's collapsed World Trade Organization customs pact.
G20 leaders will meet in the Australian city of Brisbane in November, and as G20 presidernt Australia wants countries to submit binding measures to raise collective GDP by an additional 2 percent over five years.
So far most of the proposals are narrowly focused on areas like competition policy and infrastructure. "We would like to see more trade and employment measures,"said Heather Smith, Australia's most senior G20 official during a briefing with reporters in Singapore on Monday. "It's about removing domestic barriers that will help facilitate trade".
Ms Smith said that Australia wanted to make the G20 focus more on trade issues rather than just expressing its support for other trade pact such as the Doha Agreement.
To continue reading, log in if you are a subscriber
If you are not a subscriber, you can get instant, unlimited access here