Amidst all the other gloomy news, more gloom this morning from the Financial Times on Doha. Apparently their is little hope of progress on agricultural reform before the deadline. Since Europe and the United States are the main players who need to give ground, and since relations between them are not exactly at an all time high, I suppose this is fairly predictable. It does, however, raises a question as to what other 'casualties' we might find moving forward.
The Doha global trade round faces crisis as agricultural trade negotiators are expected to fail to agree reform guidelines on Monday. This threatens paralysis in the broader World Trade Organisation talks. Stuart Harbinson, chairman of the agriculture talks, said on Friday that, with WTO members unwilling to budge from opposing positions, today's deadline for setting negotiating guidelines on agricultural tariff and subsidy cuts would be missed."It is clear that no movement on key issues is possible at this stage," he said. Trade diplomats see little prospect of any early accord as the US-led war in Iraq dominates the global agenda. Launched in late 2001, the Doha round aims at agreement between the WTO's 145 members by January 2005 on issues including cutting industrial tariffs and allowing foreign companies to provide services such as insurance and telecommunications.But an overall accord hinges on a deal to slash subsidies and trade barriers in agriculture, the most heavily protected sector in global trade and the one offering the greatest potential benefits to developing countries."Europe and America should recognise that we are better as partners, not rivals, not at odds with each other but true allies creating both peace and prosperity around the world," he will tell the British Chambers of Commerce conference. "We must strengthen, not weaken our links."
Source: Financial Times
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