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Submitted by ctv_en_2 on Wed, 07/30/2008 - 09:50
Marathon talks in Geneva aimed at liberalising global trade have collapsed, head of the World Trade Organisation (WTO), Pascal Lamy, said.

Mr Lamy confirmed the failure, which officials have blamed on China, India and the US failing to agree on import rules.


EU Trade Commissioner Peter Mandelson said the result was “heartbreaking”.


The talks were launched in 2001 in Doha and were seen as providing a cornerstone for future global trade.


The main stumbling block was farm import rules, which allow countries to protect poor farmers by imposing a tariff on certain goods in the event of a drop in prices or a surge in imports.


The US said that the “safeguard clause” protecting developing nations from unrestricted imports had been set too low.


The negotiations floundered as trade officials gathered for a ninth day. Mr Lamy said that time was needed to determine "if and how" WTO members could end the stalemate.


The Doha development round of trade talks initially started in 2001 with the aim of remedying inequality so that the developing world could benefit more from freer trade.


However, the talks have repeatedly collapsed as developed countries failed to agree with developing nations on terms of access to each others' markets.


The US and the European Union want greater access to provide services to fast-growing emerging countries, including China and India.


Meanwhile, developing countries want greater access for their agricultural products in Europe and the US.


Analysts said that the collapse of the Doha talks could symbolise an end to multilateral trade agreements. Instead, nations may pursue dual agreements with partner nations, preferring to focus on their own requirements rather than a more common negotiating goal.

 

VOVNews/BBC

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