CTindex - Christian Today UK Interactive Catalogue
Society

Panel urges rich states to save trade talks

Rich countries must make unilateral concessions to spur on marathon world trade talks or call a halt to the negotiations if they are going nowhere, MPs said on Tuesday.

Posted: Tuesday, December 4, 2007, 8:25 (GMT)
Font Scale:A A A

LONDON - Rich countries must make unilateral concessions to spur on marathon world trade talks or call a halt to the negotiations if they are going nowhere, MPs said on Tuesday.

Parliament's International Development Committee said World Trade Organisation (WTO) members needed to show political will to reach a deal in the Doha round of trade talks, that have made slow progress since being launched six years ago.

"Developed countries should reinvigorate the process with unilateral moves or draw the process to a close if it is irretrievably moribund," the committee, chaired by a Liberal Democrat and including members of the three main political parties, said in a report.

"The government should continue to make the case for unilateral moves with other EU (European Union) member states," the report said.

"We encourage the UK, EU and all negotiators to approach Doha with sufficient flexibility to succeed."

WTO members agreed last Friday to aim to finish the Doha talks next year.

Prime Minister Gordon Brown said last month he hoped for agreement on a new world trade deal within weeks.

The main sticking point is over agriculture, with countries such as India and Brazil waiting to see by how much the United States will cut farm subsidies and how much other rich countries will open their farm markets by cutting agricultural tariffs.

Only then will developing nations say by how much they will open their markets for industrial goods to imports from rich countries.

The MPs also warned that time was running out for talks between the EU and developing countries on new Economic Partnership Agreements (EPAs).

Brussels wants to sign EPAs with nearly 80 former European colonies in the African, Caribbean and Pacific (ACP) region.

Negotiations were launched more than five years ago and the EU says the new deals must be in place by December 31.

That is the expiry date of a WTO waiver that has allowed existing EU preferential trade deals with the ACP group to continue, despite being ruled illegal by the WTO.

With no deal, ACP countries would face higher tariffs for their goods entering Europe from January 1.

Five East African countries reached a deal with the EU on trade in goods and fisheries last week, leaving negotiations on services and investment for later.

But the parliamentary committee said some other countries "will simply not be ready to reach even a goods-only EPA deal by the end of the year".



© Reuters 2007. All rights reserved. Republication or redistribution of Reuters content, including by caching, framing or similar means, is expressly prohibited without the prior written consent of Reuters.
Have your say on this article
Christian Today Twitter
Google Advertisement
Externally generated - Report offensive links here
World Headline
Christian groups respond to deadly flood in Brazil

Christian groups respond to deadly flood in Brazil

Christian relief groups are on the ground helping victims of a flood being labelled the “worst environmental...
Sponsored Features
Give a disadvantaged young person a brighter future this Christmas. Order books for all ages commending the free and sovereign grace of Almighty God.
01582 765448 For holidays and retreats in the Scottish borders. Whitchester Christian Guest House 01450 377 477 Friendly printing company for churches, charities and businesses nationwide!
Sanct Maria Abbey, NUNRAW
Cistercian Monastery and Guest House
Bookings: 01620 830 228
Email: nunraw.abbot@yahoo.co.uk
Google Advertisement
Externally generated - Report offensive links here