Print Article
>> Back to the article
Sep 18, 2008
Increased need for Doha accord
OSLO - EUROPEAN Union Trade Commissioner Peter Mandelson said on Thursday that the current worldwide financial turmoil emphasised the need to conclude a global WTO trade pact that failed earlier this year.

'The message that governments, ministers and negotiators should take from this current crisis is that the global economy needs strengthening,' Mr Mandelson said during a visit to Oslo.

Faced with a 'very vulnerable and fragile' world economy, 'we need to restore confidence in markets and the successful conclusion of the Doha talks would certainly help achieve that,' he added.

The Doha Round, orchestrated by the World Trade Organisation, was launched in the Qatari capital seven years ago but has been deadlocked because of disputes between the rich developed world and poorer developing nations on trade in farm and industrial products.

The latest round collapsed in Jul after India and the US failed to agree on a safeguard mechanism that would allow nations to impose a special tariff on agricultural goods if imports surge or prices fall.

'If anyone was in any doubt about the need for success (of the Doha Round) and the contribution of a successful outcome to the global economy, they should have no doubts after what we've seen in the last week,' said Mr Mandelson, who represents the EU in the talks.

'The European Union and (non-EU member) Norway, as well as others, will be making every effort we can to revive these talks and bring them to a successful conclusion in the near future,' he added.

Following the crushing collapse of Jul's meeting, lower-level trade talks were relaunched this month at the WTO's headquarters in Geneva.

Both Mr Mandelson and WTO chief Mr Pascal Lamy have said ministerial level talks would take place in a few weeks. -- AFP

Copyright © 2007 Singapore Press Holdings. All rights reserved. Privacy Statement & Condition of Access
S M T W T F S
15 16 17 18 19 20 21
22 23 24 25 26 27 28
Best viewed at 1152x864 resolution with IE 6.0 or FireFox 2.0 and above Copyright © 2008 Singapore Press Holdings Ltd. Co. Regn No. 198402868E | Privacy Statement | Terms & Conditions