WTO chief calls on G-4 to help trade talks

New Delhi, June 22: Even as negotiations among four key World Trade Organisation (WTO) governments over a new global agreement collapsed at Potsdam in Germany yesterday, WTO Chief Pascal Lamy has called upon members of G4 to contribute to the multilateral negotiating process, which will continue today in Geneva.

India and Brazil blamed the breakdown on United States and European Union's unwillingness to cut farm aid and import duties on commodities.

Commenting on the Potsdam outcome, the Director-General of the world trade body said G4 members (US, EU, Brazil and India) have been meeting in Potsdam to try to bridge gaps in their negotiating positions.

While stating that prior convergence among these members would have been helpful to pave the way towards multilateral convergence, Mr Lamy said helpful, however, does not mean indispensable.

This negotiation is an endeavour among the 150 members of the WTO, he added.

'' I now call on the members of the G4 to contribute to the multilateral negotiating process, which will continue as of today in Geneva,'' Mr Lamy said.

The Potsdam talks began on June 19 with the objective of achieving a breakthrough on slashing agriculture subsidies and lowering hurdles for goods crossing border. However, the collapse may imperil the Doha Round of talks.

The Unites States has reportedly offered to cap its overall spending on trade-distorting domestic support at 17 billion dollars, while India and Brazil , as leaders of the G-20 group of developing countries, have been pushing for an anuual US spending limit of between 12 to 15 billion dollars.

UNI

RelatedStories