Rich Countries Wreck WTO Trade Talks

Rich Countries Wreck WTO Trade Talks

Today, international agency Oxfam slammed the European Union and America for wrecking the WTO trade talks in Cancun. The two agricultural subsidy superpowers refused to concede any ground to developing countries on agriculture, and Europe?s attempt to force Singapore Issues through led to
an end in negotiations.

Poor countries, led by the G21, have stood up to enormous pressure from the EU and US to accept a damaging deal on agriculture and market access.

Oxfam takes no delight in this failure. It is a missed opportunity.

Phil Bloomer of Oxfam said World trade negotiations will never be the same again. On paper, this
meeting has failed but the new power of developing countries backed by campaigners around the world has made Cancun a turning point.

In the past, rich countries made deals behind closed doors without listening to the rest of the world. They tried it again in Cancun. But developing countries refused to sign a deal that would fail the world´s poorest people.

The United States and Europe must take responsibility for this failure. They must come back to the table acknowledging the new reality and embracing a renewed commitment to multilateral cooperation.

Bloomer added Rich countries over played their hand and misjudged the strength of feeling and unity of the developing world who want to make trade fair and have a stake in global prosperity.

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