World Video | Defence | Foreign Affairs | Natural Events | Trade | NZ in World News | NZ National News Video | NZ Regional News | Search

 

Successful Trade Talks Can Boost Global Economy

Successful Trade Talks Can Boost Global Economy And Livelihoods, Says UN Official

A successful outcome to global trade talks is vital to strengthening the world economy and improving the livelihoods of millions of poor and vulnerable people, the head of the United Nations Development Programme (<"http://www.undp.org/">UNDP) said today, following the recent collapse of the Doha round of trade liberalization negotiations.

The seven-year-long round of global negotiations, led by the World Trade Organization (<"http://www.wto.org/">WTO), broke down at the end of July after countries failed to reach agreement on a safeguard that would allow developing nations to raise tariffs temporarily in the face of import surges and falling prices.

“It is clear that an agreement was close to being reached that, while not perfect, would nonetheless have been beneficial to developing countries and the world economy,” UNDP Administrator Kemal Dervis said in a statement issued today.

“It is very desirable that the remaining obstacles to an agreement, especially regarding a special safeguard mechanism for agriculture, be overcome,” he added.

Mr. Dervis noted that while in some cases bilateral and regional trade agreements are beneficial to those participating, they cannot replace a truly multilateral system.

This is especially the case, he said, for developing countries, which can benefit from many of the rules and the dispute settlement mechanism of the multilateral trade regime.

“A balanced, equitable, open and multilateral trading system is desirable, particularly given both the current and foreseeable difficulties of the world economy owing to the financial crisis and high volatility of energy and food prices, which themselves are partly the result of sub-optimal trade policies,” stated Mr. Dervis.

He added that the next few weeks will be critical to revitalizing the negotiations.

Secretary-General Ban Ki-moon expressed similar sentiments in a statement issued last month, in which he said that “success was particularly important at this juncture when the world faces major development challenges,” including climate change, poverty, increasing protectionism, limited progress towards meeting the Millennium Development Goals (MDGs), and the current food, fuel and financial crises.

ENDS

© Scoop Media

 
 
 
 
 
World Headlines

 

Werewolf: Gordon Campbell On North Korea, Neo-Nazism, And Milo

With a bit of luck the planet won’t be devastated by nuclear war in the next few days. US President Donald Trump will have begun to fixate on some other way to gratify his self-esteem – maybe by invading Venezuela or starting a war with Iran. More>>

Victory Declared: New Stabilisation Funding From NZ As Mosul Is Retaken

New Zealand has congratulated the Iraqi government on the successful liberation of Mosul from ISIS after a long and hard-fought campaign. More>>

Gordon Campbell: On The Current US Moves Against North Korea

If Martians visited early last week, they’d probably be scratching their heads as to why North Korea was being treated as a potential trigger for global conflict... More>>

ALSO:

Gordon Campbell: On The Lessons From Corbyn’s Campaign

Leaving partisan politics aside – and ignoring Jeremy Corbyn’s sensational election campaign for a moment – it has to be said that Britain is now really up shit creek... More>>

ALSO:

Another US Court: Fourth Circuit Rules Muslim Ban Discriminatory

ACLU: Step by step, point by point, the court laid out what has been clear from the start: The president promised to ban Muslims from the United States, and his executive orders are an attempt to do just that. More>>

ALSO:

 
 
 
 
 
 
  • Pacific.Scoop
  • Cafe Pacific
  • PMC