Israel-Hezbollah ceasefire comes into effect    Five survivors found day after Red Sea tourist boat sinking    Imran Khan supporters pushed back by security forces    Russia launched a record number of almost 200 drones toward Ukraine    King Salman calls for rain-seeking prayer on Thursday    Al Hilal advances to AFC Champions League knockout stage despite 1-1 draw with Al Sadd    Finance minister: All Vision 2030 projects have sustainable funding that won't affect public finances    Crown Prince announces medium-term debt strategy to diversify funding sources "A resilient economy capable of overcoming challenges reflects progress towards achieving Vision 2030 goals"    Riyadh Season draws 8 million visitors in 6 weeks    Alkhorayef highlights role of National Initiative for Global Supply Chains in boosting Saudi economy    Saudi Arabia signs investment deals worth SR35bn with foreign firms to strengthen global supply chains    Saudi Arabia unveils updates on Expo 2030 Riyadh master plan at 175th BIE General Assembly Riyadh Expo Development Company established to oversee strategic planning, operations, and legacy development    Saudi FM attends Quadripartite meeting on Sudan in Italy    Best-selling novelist Barbara Taylor Bradford dies    Cristiano Ronaldo's double powers Al Nassr to 3-1 win over Al Gharafa in AFC Champions League    Al Ahli edges Al Ain 2-1, bolsters perfect start in AFC Champions League Elite    Most decorated Australian Olympian McKeon retires    Adele doesn't know when she'll perform again after tearful Vegas goodbye    'Pregnant' for 15 months: Inside the 'miracle' pregnancy scam    Do cigarettes belong in a museum?    Order vs. Morality: Lessons from New York's 1977 Blackout    India puts blockbuster Pakistani film on hold    The Vikings and the Islamic world    Filipino pilgrim's incredible evolution from an enemy of Islam to its staunch advocate    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



WORLD TRADE ROUND FACES CRISIS - WTO'S LAMY
Published in Saudi Press Agency on 30 - 06 - 2006

WORLD TRADE ORGANISATION (WTO) CHIEF PASCAL LAMY, IN HIS DIREST WARNING YET, SAID ON FRIDAY GLOBAL TRADE TALKS WERE HEADING FOR A CRISIS BUT HIS WORDS FAILED TO STIR NEGOTIATORS INTO NEEDED CONCESSIONS, REUTERS REPORTED.
ADDRESSING THE WTO'S 149 MEMBER STATES, INCLUDING SEVERAL DOZEN TRADE MINISTERS, LAMY SAID THE TRADE ROUND'S FAILURE WOULD DAMAGE THE WTO AND THE MULTILATERAL TRADING SYSTEM.
"WE ARE PUTTING AT RISK THE FUTURE OF THE DOHA ROUND ... IF WE DO NOT TURN THINGS AROUND RADICALLY IN THE NEXT FEW HOURS OR DAYS, WE WILL FRANKLY BE FACING A CRISIS," HE SAID. "WE ARE WELL INTO THE RED PART OF THE RED ZONE."
SOME 60 MINISTERS, A THIRD OF THE WTO, ARE IN GENEVA IN A BID TO THRASH OUT A PACT BY SUNDAY ON FARM AND MANUFACTURING TRADE, CORE AREAS OF THE WTO'S DOHA ROUND.
WITHOUT A DEAL IN THESE KEY AREAS THIS WEEKEND, LAMY SAYS THE WTO WILL RUN OUT OF TIME TO CONCLUDE THE ROUND, WHICH ALSO INCLUDES COMPLEX ISSUES SUCH AS SERVICES, BY THE END OF THE YEAR, WHICH IS THE ABSOLUTE CUT-OFF.
THE TALKS PIT THE EUROPEAN UNION AND THE UNITED STATES AGAINST EACH OTHER AND AGAINST LEADING DEVELOPING STATES.
BRAZILIAN FOREIGN MINISTER CELSO AMORIM SAID HE SAW NO SIGN OF MOVEMENT AFTER TALKS IN THE SO-CALLED G6, THE UNITED STATES, THE EU, BRAZIL, INDIA, AUSTRALIA AND JAPAN.
"I DON'T SENSE, UNTIL NOW, ANY SIGNIFICANT PROGRESS," HE TOLD REPORTERS, ADDING THAT HE DID NOT SEE MUCH CHANCE OF THINGS CHANGING OVER THE NEXT COUPLE OF DAYS.
"SOMETIMES YOU NEED A CRISIS FOR AN AGREEMENT (TO COME)," HE SAID.
LAUNCHED IN 2001 TO BOOST THE GLOBAL ECONOMY AND TACKLE POVERTY, THE ROUND IS FAR BEHIND SCHEDULE DUE TO DEEP DIVISIONS, PARTICULARLY BETWEEN DEVELOPED AND DEVELOPING STATES.
BUT WHAT HAD ALREADY BEEN AGREED, SUCH AS AN END TO FARM EXPORT SUBSIDIES BY RICH STATES, WAS ALREADY MORE THAN HAD BEEN ACHIEVED IN ANY PREVIOUS TRADE ROUND, LAMY SAID.


Clic here to read the story from its source.