Deal on Doha trade talks must: WTONovember 19th, 2008 - 5:07 pm ICT by IANS
Phnom Penh, Nov 19 (Xinhua) A deal on the World Trade Organization’s (WTO) Doha round of trade talk is an urgent necessity to help poor countries tackle the current global economic crisis, WTO chief Pascal Lamy said Wednesday. “In the present economic turmoil, what was necessary yesterday has now become indispensable. The international community must deliver on both trade and aid,” national television TVK quoted him as telling the opening ceremony of the two-day LDCs (Least Developed Countries) Ministerial Conference in Siem Reap province.
“I think there is a growing consensus that only multilateral solutions can address the challenges facing the global economy today,” he told the delegates from 49 countries to discuss global trade.
The Doha round of talks began in 2001 but broke down in July this year on the issues of market rights for developing economies in rich countries, Intellectual Property Rights (IPR) and farm subsidies.
A joint press release from the United Nations Industrial Development Organization (UNIDO) and the WTO said Wednesday’s meeting aims to help LDCs integrate their economies into the global trading system.
One of the main topics is “Aid for Trade” (AfT), a package of incentives designed to help the LDCs overcome structural and resource constraints in exchange for more speedy trade reforms, it added.
Tags: economic turmoil, farm subsidies, global economic crisis, global trading system, least developed countries, pascal lamy, phnom penh, resource constraints, united nations industrial, world trade organization