Hope Remains for WTO Trade Talks

Hope Remains for WTO Trade Talks

Reports that the Brazilian President is seeking to revive the Doha Round of World Trade talks are encouraging, according to Charles Finny, CEO of the Wellington Regional Chamber of Commerce.

Brazilian President Luiz Inacio Lula da Silva has been talking to the US, Chinese and Indian leaders to try and resolve the remaining differences. Brazil is a major player in the talks.

“Talks at the recent Ministerial meeting in Geneva broke down over the issue of a special safeguard mechanism for agriculture. This was not sufficient reason for such an important negotiation to fail and it is encouraging that world leaders have seen fit to resurrect the talks,” said Mr Finny.

“It is important that all attempts are made to try and reach early agreement on something similar to the package that was on the table in Geneva.

“That deal was far from perfect. No one member would have been happy with all elements. But it was a package that would have seen everyone better off than they would be without it.

“A successful Doha outcome would send the right signals for the current fragile state of the global economy.

“We wish the Brazilian President much luck in his endeavours,” Mr Finny concluded.

ENDS

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