1 Updates

Ministers begin 'now or never' talks on trade deal (Roundup)

Dec 3 2013, 8:42am CST | by IANS

Nusa Dua (Indonesia), Dec 3 (IANS) Trade ministers from around the world Tuesday opened talks to finalise a package of agreements covering agriculture, development and trade facilitation in a bid to pave the way for future completion of the Doha Round.

Nusa Dua (Indonesia), Dec 3 — Trade ministers from around the world Tuesday opened talks to finalise a package of agreements covering agriculture, development and trade facilitation in a bid to pave...

Filed under: news

Full Story below YouTube Videos

 
 

 

19 weeks ago

Ministers begin 'now or never' talks on trade deal (Roundup)

Dec 3 2013, 8:42am CST | by IANS

Nusa Dua (Indonesia), Dec 3 (IANS) Trade ministers from around the world Tuesday opened talks to finalise a package of agreements covering agriculture, development and trade facilitation in a bid to pave the way for future completion of the Doha Round.

Nusa Dua (Indonesia), Dec 3 — Trade ministers from around the world Tuesday opened talks to finalise a package of agreements covering agriculture, development and trade facilitation in a bid to pave the way for future completion of the Doha Round.

"Failure is not an option," host Indonesia's President Susilo Bambang Yudhoyono told delegates as he opened the World Trade Organisation (WTO) ministerial summit on the resort island of Bali.

"I fear that should we let this opportunity slip, it is developing countries that will lose out the most."

The talks were aimed at breaking the impasses over global trade liberalisation. They would either produce a deal that could boost the global economy by $1 trillion or spell the end of the WTO's relevance as a forum for negotiations.

WTO Director General Roberto Azevedo asked trade chiefs of 159 member-nations to reach a modest agreement on key trade issues, saying "It is now or never".

"We cannot put this off for another day," he told ministers shortly after the four-day meeting opened.

Delegates at the talks working toward achieving the so-called Bali Package face their toughest test in the deliberation of proposal by the G33 grouping that the WTO revise its agriculture agreement to effectively allow developing countries to exceed their subsidy output of 10 percent of national output.

Since a revision on the agreement would take years, the G33 has called for an interim solution, also known as the peace clause, to allow it to exceed the threshold without being challenged at the WTO.

The most vocal proponent of this is India, whose food subsidy programme would breach the threshold after its roll-out. Commerce and Industry Minister Anand Sharma said the programme is "sacrosanct and non-negotiable".

Sharma said ensuring a positive outcome from the ministerial meeting was the "collective responsibility" of all members of the multilateral organisation.

Sharma said ensuring food security for large populations was a common concern shared by developing countries as WTO rules in the area of agricultural support had become dated and did not take into account rising prices.

The WTO launched the "Doha Round" of talks in Qatar in 2001, seeking to overhaul the world trading system by setting a global framework of rules and pulling down barriers.

But protectionist disputes between rich and poor countries -- as well as the WTO's insistence that any accord be unanimous -- has made a deal elusive.

"Here in Bali, we have an opportunity to work together to achieve what we missed in Geneva. We have an opportunity to demonstrate to the world that we are ready to reinvigorate global trade. And we also have an opportunity to lay the path to make global trade easier, more fair and more inclusive for all," Yudhoyono said.

"By doing so, we will contribute to the efforts in strengthening the credibility and confidence of our multilateral trading system," he said.

Earlier, hundreds of activists from over 50 countries marched through the streets chanting slogans against the WTO, which they said is not benefiting members and even worsening global trade. They condemned attempts by developed countries to prevent developing ones to feed their populations.

IANS

Source: IANS

 

Don't miss ...

 

blog comments powered by Disqus

Latest stories

Major Efforts to Mitigate Climate Change Well Under Way in Europe
Major Efforts to Mitigate Climate Change Well Under Way in Europe
Responding to the UN report on climate change mitigation, European innovators working across a range of climate innovation disciplines are stressing that major efforts are well under way in Europe.
 
 
EU Climate Innovation Chief Executive: Private, Public and Academic Sectors Need to Come Together
EU Climate Innovation Chief Executive: Private, Public and Academic Sectors Need to Come Together
Mary Ritter, CEO of the EU's main climate innovation initiative Climate-KIC, calls for greater collaboration between the private, public and academic sectors to develop new solutions to stop further climate change.
 
 
InfraGard National Members Alliance Announces New Appointments to the Board of Directors
InfraGard National Members Alliance Announces New Appointments to the Board of Directors
Washington DC, DC, April 12, 2014 --(PR.com)-- The InfraGard National Members Alliance (INMA) announces the appointment of two members to its Board of Directors. The new appointees to three-year terms are Jerry Bowman...
 
 
Troubled Families Conference Announced by Capita Conferences - 27th June, Central London
This important conference gives a national overview of the troubled families agenda and delivers practical insight to help optimise services for families at risk and in crisis.
 
 
 

Latest from the Network

Do You Have The 'Stickability' To Be A Successful Entrepreneur?
It’s no secret that successful entrepreneurs have something special that sets them apart from just the dabblers and hobbyists, but exactly what is it that’s different? Every business venture runs into obstacles,...
Read more on Business Balla
 
The Masters Post Mortem And Prognosis Without Tiger Woods
null Before the Masters, I suggested the leaders of golf carefully examine this 2014 event without Tiger Woods. It would be a forecast of the future of golf without him, which is, of course, inevitable. The examination...
Read more on Business Balla
 
'X-Men: Days Of Future Past' Gets One Last Trailer
I suppose I should have seen this coming. I spent the last three months praising the relative restraint of the X-Men: Days of Future Past marketing campaign. Up until three weeks ago, we had only seen a single trailer,...
Read more on Business Balla
 
Bruins Tickets Have Biggest Face Price Discount For 1st Round Of NHL Playoffs
In three out of the last four season, the Bruins have faced an original six team in the first round of the playoffs. This year, they’ll face off against the Detroit Red Wings,  a team they haven’t met in the playoffs in...
Read more on Business Balla
 
Don't Underestimate Big Data
The techniques of big data have been criticized recently in a post by Tim Harford among others. It’s quite easy to imagine the potential here has been exaggerated, and a core point about the importance of theory in a...
Read more on Business Balla
 
Even Recreational Marijuana May Be Linked To Brain Changes
Adding to earlier evidence that marijuana may be linked to lasting neurological changes, a new study in the Journal of Neuroscience today finds that even casual pot smoking may have an effect on the size and structure...
Read more on Business Balla
 
Man Pulls Submachine Gun Over 22¢ Tax: 'I'm Tax Exempt'
A Chicago man allegedly brandished a submachine gun in a store. No, he wasn’t robbing it. He just didn’t want to pay a 22-cent tax on a $1.79 two-liter bottle of soda. Taxes are annoying, especially this time of year....
Read more on Business Balla
 
Wireless industry makes anti-theft commitment
SAN FRANCISCO (AP) — A trade group for wireless providers said Tuesday that that nation's biggest mobile device manufacturers and carriers will soon put anti-theft tools on the gadgets to try to deter rampant smartphone...
Read more on Business Balla
 
Paul Walker's brothers help complete movie
Paul Walker's younger brothers will help complete his final movie, 'Fast & Furious 7.' Producers confirmed on Tuesday (04.15.14) that Caleb and Cody Walker have signed on to shoot the remaining scenes featuring the...
Read more on Celebrity Balla
 
Wireless industry makes anti-theft commitment
SAN FRANCISCO (AP) — A trade group for wireless providers said Tuesday that that nation's biggest mobile device manufacturers and carriers will soon put anti-theft tools on the gadgets to try to deter rampant smartphone...
Read more on Apple Balla
 
 
Auto Balla Sexy Balla Sport Balla TV Balla Politics Balla Movie Balla Apple Balla Business Balla Ad Balla Celebrity Balla