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Leaders set to revive WTO talks Leaders set to revive WTO talks
(10 minutes later)
World leaders are set to meet in new Delhi in an attempt to revive stalled global trade negotiations. World leaders are set to meet in Delhi in an attempt to revive stalled global trade negotiations.
Trade ministers from India, the US, the European Union and Brazil will meet for the first time since talks ended last July, before four days of formal talks.Trade ministers from India, the US, the European Union and Brazil will meet for the first time since talks ended last July, before four days of formal talks.
Pressure for progress is heightened by a June deadline for the US to give fast-track approval for trade deals.Pressure for progress is heightened by a June deadline for the US to give fast-track approval for trade deals.
The Doha round of talks, started in 2001, collapsed with a failure to agree on farm subsidies and tariffs.The Doha round of talks, started in 2001, collapsed with a failure to agree on farm subsidies and tariffs.
Doha prospectsDoha prospects
EU Trade Commissioner Peter Mandelson said the process of negotiation needed to intensify and accelerate".EU Trade Commissioner Peter Mandelson said the process of negotiation needed to intensify and accelerate".
"If we fail, Doha's prospects for the year will be lost," he said."If we fail, Doha's prospects for the year will be lost," he said.
A key sticking point has been over agriculture - with particular disagreement between the US and the EU.A key sticking point has been over agriculture - with particular disagreement between the US and the EU.
Each side has accused the other of dragging its feet over reductions in farm tariffs and subsidies.Each side has accused the other of dragging its feet over reductions in farm tariffs and subsidies.
Meanwhile, the big emerging economies, notably India and Brazil, face criticism from the US and Europe for failure to open their markets to imports of industrial goods - although they in turn say the developed countries are offering much less than they are demanding.Meanwhile, the big emerging economies, notably India and Brazil, face criticism from the US and Europe for failure to open their markets to imports of industrial goods - although they in turn say the developed countries are offering much less than they are demanding.
Informal and bilateral talks will start Wednesday, before four days formal negotiations on Thursday, when Japan and Australia will also partake in the discussions. Informal and bilateral talks will start Wednesday, before four days of formal negotiations on Thursday, when Japan and Australia will also join in the discussions.
Some however were not overly optimistic.Some however were not overly optimistic.
"There doesn't seem to be any willingness to compromise so in that kind of situation, it's difficult to expect any favourable outcome," said DH Pai Panandiker, president of Indian think-tank RPG Foundation."There doesn't seem to be any willingness to compromise so in that kind of situation, it's difficult to expect any favourable outcome," said DH Pai Panandiker, president of Indian think-tank RPG Foundation.