Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Collapse of WTO Talks - Damn shame not a disaster

Collapse of WTO Talks - Damn shame but not a disaster

It's a damn shame said Trade Liberalisation Executive Director Suse Reynolds reacting to the collapse of the Ministerial talks in Cancun, Mexico this morning.

"We are witnessing two factors at work - a trade round in its relative infancy and the ascendancy of developing countries," she said. "The Doha Round is barely two years old. It was always an ambitious target to conclude the round by the beginning of 2005.

Not at all unusual for trade rounds to go to the precipice and come back from the brink.

"The Uruguay Round took eight years to conclude with a couple of these sorts of set backs.

"We need to bear in mind too that with elections pending in both the US and EU in the next year there is very little political will to take tough decisions at this time.

"If we look at developing countries, they now make up over 80% of the WTO's membership and are determined not to be pushed around. In the past the EU and US could broker deals which were able to foist on the rest of the membership. That's no longer possible and it's a healthy development. "However its taking both trading super powers longer than it should to come to terms with that reality," said Suse Reynolds.

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Onetai Station: Overseas Investment Office Puts Ceol & Muir On Notice

The Overseas Investment Office (OIO) has issued a formal warning to Ceol & Muir and its owners, Argentinian brothers Rafael and Federico Grozovsky, for failing to provide complete and accurate information when they applied to buy Onetai Station in 2013. More>>

ALSO:

Tomorrow, The UN: Feds President Takes Reins At World Farming Body

Federated Farmers president Dr William Rolleston has been appointed acting president of the World Farmers’ Organisation (WFO) at a meeting in Geneva overnight. More>>

ALSO:

I Sing The Highway Electric: Charge Net NZ To Connect New Zealand

BMW is turning Middle Earth electric after today announcing a substantial contribution to the charging network Charge Net NZ. This landmark partnership will enable Kiwis to drive their electric vehicles (EVs) right across New Zealand through the installation of a fast charging highway stretching from Kaitaia to Invercargill. More>>

ALSO:

Watch This Space: Mahia Rocket Lab Launch Site Officially Opened

Economic Development Minster Steven Joyce today opened New Zealand’s first orbital launch site, Rocket Lab Launch Complex 1, on the Mahia Peninsula on the North Island’s east coast. More>>

Earlier:

Marketing Rocks!
Ig Nobel Award Winners Assess The Personality Of Rocks

A Massey University marketing lecturer has received the 2016 Ig Nobel Prize for economics for a research project that asked university students to describe the “brand personalities” of three rocks. More>>

ALSO:

Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news