WTO faces moment of truth

Tensions rose at the ministerial meeting yesterday of the World Trade Organization (WTO), and the next few hours are expected to be decisive as to whether the Doha Round of trade talks will survive.

Friday, July 25, 2008

Ministers arrived in Geneva four days ago in response to a summons from the general director of the WTO, Pascal Lamy, who admits that the process is at a delicate phase. He said the next 24 hours will be decisive.
Europe has made some concessions since the last round of talks ended in failure, and now it is up to countries like India and Brazil to see whether they view the concessions as sufficient for the renewal of serious negotiations.

More on this topic

War of the Banana: Another Proposal, Another Rejection

February 2009

The proposal from the EU is similar to the one presented in 2008 in the OMC, extending to 10 years the time period for the reduction of the tariff from 176 to 95 euros per ton.

The Central American countries insist that the European Union should improve its proposal on the issue of the banana just as much as on the issue of sugar.

Doha: years of progress lost

July 2008

The ministers at the mini summit publicly stated that they were unable to reach an agreement after 9 days of high level meetings at the WTO.

Governments’ latest attempt to salvage a deal in the Doha Round of trade talks broke down on Tuesday, as ministers acknowledged that they were unable to reach a compromise after nine days of a high-level summit at the WTO.

WTO trade talks collapse

July 2008

The meeting aimed at saving a new World Trade Organization's tariff agreement has failed to achieve agreement between the United States, China and India. The stumbling block was agricultura products.

A source from one of the rich countries and one from a developing country told the Associated Press Tuesday that a meeting of the seven nations failed to find common ground.

EU makes small concession on banana tariffs

July 2008

Europe could make an intial reduction on its tariffs on bananas by 28 euros per ton, reducing it to 114 euros per ton by 2016. The concession was made by the head of the World Trade Organization Pascal Lamy, a Frenchman, as part of an effort to revive the moribund Doha Round of trade talks in Brussels last weekend.

Some hailed the concession as a major advance, but the most important banana exporters, the African, Caribbean and Pacific trade group (ACP) had evidently been looking for something better.

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