ID :
14175
Tue, 07/29/2008 - 11:06
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Shortlink :
https://oananews.org//node/14175
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Key trading powers make hard push for free trade accord
GENEVA, July 29 Kyodo - Seven major trading powers on Monday made a hard push toward an outline accord on free global trade under the World Trade Organization, with officials saying that the release of a final revised text for negotiations is expected later in the day.
As marathon talks in Geneva entered the eighth day, many players in the current Doha Round talks are moving toward broadly accepting a set of compromise proposals circulated late last week by WTO Director General Pascal Lamy in the agricultural and industrial sectors.
Lamy called on all WTO members to have ''a sense of realism'' and not only ''a sense of urgency'' to make a final push for the envisioned deal that is coming almost within reach.
''We are close to closure on what is a very substantive achievement,'' Lamy's spokesman Keith Rockwell quoted him as telling negotiators this morning.
''Let's go that short distance to the summit.''After final adjustments through the meetings of the seven powers --Australia, Brazil, China, the European Union, India, Japan and the United States -- and a wider framework of about 30 economies, the WTO is expected to present its final draft for an outline agreement possibly later Monday.
As to what is particularly critical for Japan is that the latest draft states each rich country is allowed to designate 4 percent of all farm products as sensitive products to be exempted from steep tariff cuts.
Although Japan wants at least 8 percent of all farm products to be exempted from sharp tariff cuts, it appears difficult to achieve such a target as most trading parties, including the United States and the European Union, are joining forces with Lamy's proposals on this part.
Lamy's compromise plans also say that developed countries may raise the ratio of sensitive products, such as rice, wheat and sugar for Japan, by 2 percentage points to 6 percent in exchange for increasing the amount of low-tariff imports.
However, it is uncertain whether WTO members will strike an outline accord during the current ministerial talks as gaps still remain between developed and developing countries on some issues such as the U.S. cotton subsidy, the delegates said.
The Doha talks, launched in the Qatari capital in November 2001, had been long stalled due mainly to a rift between rich and poorer countries on the core issues of farm and industrial sectors.
If the 153-member WTO seals an outline accord on so-called modalities, key figures for cuts in tariffs on agricultural and industrial goods as well as farm subsidies, during the ongoing Geneva talks, it will give impetus to a successful conclusion of the Doha Round by the end of this year.
The key ministerial meeting of more than 30 top negotiators was originally set to run for six days through Saturday.
If everything goes smoothly, the delegates now said they expect to formalize the envisioned deal on the modalities as early as Wednesday.
As marathon talks in Geneva entered the eighth day, many players in the current Doha Round talks are moving toward broadly accepting a set of compromise proposals circulated late last week by WTO Director General Pascal Lamy in the agricultural and industrial sectors.
Lamy called on all WTO members to have ''a sense of realism'' and not only ''a sense of urgency'' to make a final push for the envisioned deal that is coming almost within reach.
''We are close to closure on what is a very substantive achievement,'' Lamy's spokesman Keith Rockwell quoted him as telling negotiators this morning.
''Let's go that short distance to the summit.''After final adjustments through the meetings of the seven powers --Australia, Brazil, China, the European Union, India, Japan and the United States -- and a wider framework of about 30 economies, the WTO is expected to present its final draft for an outline agreement possibly later Monday.
As to what is particularly critical for Japan is that the latest draft states each rich country is allowed to designate 4 percent of all farm products as sensitive products to be exempted from steep tariff cuts.
Although Japan wants at least 8 percent of all farm products to be exempted from sharp tariff cuts, it appears difficult to achieve such a target as most trading parties, including the United States and the European Union, are joining forces with Lamy's proposals on this part.
Lamy's compromise plans also say that developed countries may raise the ratio of sensitive products, such as rice, wheat and sugar for Japan, by 2 percentage points to 6 percent in exchange for increasing the amount of low-tariff imports.
However, it is uncertain whether WTO members will strike an outline accord during the current ministerial talks as gaps still remain between developed and developing countries on some issues such as the U.S. cotton subsidy, the delegates said.
The Doha talks, launched in the Qatari capital in November 2001, had been long stalled due mainly to a rift between rich and poorer countries on the core issues of farm and industrial sectors.
If the 153-member WTO seals an outline accord on so-called modalities, key figures for cuts in tariffs on agricultural and industrial goods as well as farm subsidies, during the ongoing Geneva talks, it will give impetus to a successful conclusion of the Doha Round by the end of this year.
The key ministerial meeting of more than 30 top negotiators was originally set to run for six days through Saturday.
If everything goes smoothly, the delegates now said they expect to formalize the envisioned deal on the modalities as early as Wednesday.
