Without farm deal Doha trade round will fail-Brazil

By Staff
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Google Oneindia News

ST PETERSBURG, Russia, June 10 (Reuters) The Doha trade round will fail if negotiators are unable to achieve a breakthrough on agriculture, Brazil's Finance Minister Guido Mantega said on Saturday.

Mantega said he was speaking on behalf of China and India, whose finance ministers he met during a Group of Eight finance ministerial in St Petersburg, Russia.

''Our three countries have agreed that, if there are no strong indicators of these advances with regard to agriculture, the Doha round will fail,'' Mantega told reporters.

''Both Brazil and China have shown willingness to be more flexible; Brazil with industrial products, China on services.

But this will not take place unless the developed countries have a stronger commitment to liberalise their economies on trade.'' Brazil has signalled willingness to cut import tariffs on industrial products, if the United States and Europe agree to cut farm import tariffs and subsidies, to try save the Doha trade round ahead of key talks this month.

The World Trade Organisation, which groups 149 nations, meets from June 26 in Geneva for a final push to reach an accord on agriculture and manufacturing -- two of the toughest areas in the free trade talks.

REUTERS CS PM1542

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