WTO calls for acceleration of Doha round of talks

IN AN international meeting, Pascal Lamy, directorgeneral of the World Trade Organisation (WTO), has ordered an opening of the throttle on the “Doha” round of talks, and an acceleration of what was designated a “development round” – aimed at correcting the multilateral trading system imbalances that continue to penalise developing countries. After a number of hiccups in the negotiations – where developing countries have grouped together and accused the developed nations of unfair trade practices – Lamy has again stressed the developmental objectives raised by the WTO in the six-year series of talks in the Doha round. He highlighted six main headlines for the on-going negotiations, according to information released to FTW by trade and customs consultants, Deloitte. They include: • A reduction formula to address tariff peaks, high tariffs and tariff escalations remaining in developed countries; • Cuts in trade distorting agriculture/export subsidies in developed countries; • Improving market access through tariff cuts and removal of quantitative restrictions; • Opening the services market for developing countries; • Fostering trade in environmentally-friendly goods and services; and • New provisions on access to medicines for developing countries.