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Latest world trade talks collapse | Latest world trade talks collapse |
(40 minutes later) | |
The latest negotiations to try to secure a new global trade deal have collapsed without agreement. | The latest negotiations to try to secure a new global trade deal have collapsed without agreement. |
Trade leaders from the European Union, US, India and Brazil were meeting in Germany to find a breakthrough on the long-delayed Doha round of talks. | Trade leaders from the European Union, US, India and Brazil were meeting in Germany to find a breakthrough on the long-delayed Doha round of talks. |
The World Trade Organization has yet to comment on the failure, but both Brazil and India say the EU and US are not offering enough on agriculture. | The World Trade Organization has yet to comment on the failure, but both Brazil and India say the EU and US are not offering enough on agriculture. |
India and Brazil want the US and EU to cut farm subsidies and tariffs. | India and Brazil want the US and EU to cut farm subsidies and tariffs. |
Meanwhile, the EU and US want India, Brazil and other developing countries to better open up their markets to Western industrial goods and service companies. | Meanwhile, the EU and US want India, Brazil and other developing countries to better open up their markets to Western industrial goods and service companies. |
'Useless' | 'Useless' |
Brazil's Foreign Minister Celso Amorim said the Brazilian and Indian delegations had walked away from the negotiations in the eastern German city of Potsdam, because they had proved to be "useless". | Brazil's Foreign Minister Celso Amorim said the Brazilian and Indian delegations had walked away from the negotiations in the eastern German city of Potsdam, because they had proved to be "useless". |
India's Commerce and Industry Minister Kamal Nath added that "there will have to be a substantial attitude change" from the EU and US. | |
The Doha Round of talks - named after the Qatari capital where discussions started in 2001 - have been repeatedly delayed because of continuing disagreements. | The Doha Round of talks - named after the Qatari capital where discussions started in 2001 - have been repeatedly delayed because of continuing disagreements. |
A key meeting in Hong Kong in December 2005 that was due to have established the final agreement ended in failure, and negotiations have drifted since then, despite a series of follow-up talks. | A key meeting in Hong Kong in December 2005 that was due to have established the final agreement ended in failure, and negotiations have drifted since then, despite a series of follow-up talks. |
World Trade Organization boss Pascal Lamy recently warned that without a breakthrough very soon, the Doha round could be put on hold for several years. | World Trade Organization boss Pascal Lamy recently warned that without a breakthrough very soon, the Doha round could be put on hold for several years. |