Nations Decide to Collectively Proceed on WTO Trade Proposals
End of the year 2006 timeline reconfirmed for completion of world trade talks.
Compiled by staff
Published: Jan 30, 2006
On the sidelines of the annual World Economic Forum in Switzerland over the weekend, about 20 World Trade Organization members said they agreed to work together on trade proposals, instead of individually putting offers on the table.
The New York Times reports that trade ministers from the United States, Europe, Brazil and other countries met in one-on-one sessions to begin the process of working together. "At a panel discussion afterward, they said they would make formal proposals together, rather than wait for one another to make the first move," the article states.
Ministers also reconfirmed their commitment to complete the Doha round by the end of 2006. Progress is especially needed before April 30, 2006, the self-imposed deadline for agreeing on a precise formula for specific tariff reductions.
Six major WTO ministers - from Australia, Brazil, the EU, India, Japan and the U.S. - will meet March 10 in Geneva.
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