Revised trade negotiating texts for the Doha Round of global trade talks were released last week and are being reviewed by U.S. trade officials as well other World Trade Organization member nations. USDA Chief Economist Joe Glauber is part of the delegation to WTO as an agricultural trade advisor.
"This is, what is now the third revision of a revised text for agriculture that was put out last July," Glauber says. "We are hopeful that countries will be able to use this text as a basis for negotiations over the next few weeks and arrive at some conclusion on so-called modalities, which are the rules for reduction commitments."
The WTO has scheduled a ministerial meeting in Geneva, Switzerland beginning July 21. Glauber says that they hope there is a significant enough package in the text that the U.S. and others can reach an agreement. If an agreement is reached, WTO officials would like to finally conclude the Doha Round that has been ongoing since 2001, and get a deal in place before the end of the year.
Powered by iNet Solutions Group ©2011 All Rights Reserved.