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G20 urges restart of trade talks | G20 urges restart of trade talks |
(30 minutes later) | |
Representatives of the G20 group of developing countries have called for the resumption of global trade talks, which were suspended in July. | Representatives of the G20 group of developing countries have called for the resumption of global trade talks, which were suspended in July. |
The G20, which consists of governments from Africa, Asia and Latin America, is meeting in the Brazilian city of Rio de Janeiro. | The G20, which consists of governments from Africa, Asia and Latin America, is meeting in the Brazilian city of Rio de Janeiro. |
G20 officials will meet trade negotiators from Japan, the United States and the European Union. | |
World trade talks broke down amid ongoing disagreements over agriculture. | World trade talks broke down amid ongoing disagreements over agriculture. |
The Doha round of talks at the World Trade Organisation (WTO) was intended to favour poorer nations. | The Doha round of talks at the World Trade Organisation (WTO) was intended to favour poorer nations. |
With the talks on hold, the developing world is leading the push to get them restarted. | With the talks on hold, the developing world is leading the push to get them restarted. |
Opening this meeting the Brazilian foreign minister, Celso Amorim, said failure was not an option. In a statement, the G20 called for the prompt resumption of official WTO talks, demanding that wealthier countries take the lead. | Opening this meeting the Brazilian foreign minister, Celso Amorim, said failure was not an option. In a statement, the G20 called for the prompt resumption of official WTO talks, demanding that wealthier countries take the lead. |
In practice, that means concessions on agriculture from both the United States and the European Union. | In practice, that means concessions on agriculture from both the United States and the European Union. |
The EU protects its farmers from competition through steep import tariffs, while the US government pays around twenty billion dollars a year in farm subsidies. | The EU protects its farmers from competition through steep import tariffs, while the US government pays around twenty billion dollars a year in farm subsidies. |
Deadline | Deadline |
On Sunday the G20 will hold separate meetings with chief negotiators from the EU, the United States and Japan. | On Sunday the G20 will hold separate meetings with chief negotiators from the EU, the United States and Japan. |
With the head of the WTO, Pascal Lamy, also here, the meeting brings together almost all the key players. | With the head of the WTO, Pascal Lamy, also here, the meeting brings together almost all the key players. |
No major breakthrough is expected before November's congressional elections in the US but if the Doha round is to succeed, talk must resume very soon after that. | No major breakthrough is expected before November's congressional elections in the US but if the Doha round is to succeed, talk must resume very soon after that. |
The looming political deadline is July next year, when President Bush will lose his current authority from Congress to negotiate trade deals. | The looming political deadline is July next year, when President Bush will lose his current authority from Congress to negotiate trade deals. |
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