Tag Archives: Doha Round

News, Politics, Government

Indonesia readies for $1 trillion trade talks

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Indonesia may hold the key to a $1 trillion injection into the global economy.

That’s how much the World Trade Organization believes is riding on talks later this year in Bali, when trade ministers hope to cut through some of the red tape that slows global commerce.

Indonesia‘s Foreign Minister Marty Natalegawa told The Associated Press that failure is not an option and that a strong effort is being put in to ensure that the WTO meeting in Bali is “crowned with success.”

Trade ministers agreed Saturday at the World Economic Forum in Davos that some of the key elements of a global trade deal can be fleshed out by summer, in preparation for ministerial talks in December.

The current trade talks, known as the Doha Round, began in 2001,

Source: FULL ARTICLE at Fox World News

News, Politics, Government

Brazil's WTO candidate to focus on consensus

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Brazil‘s candidate to head the World Trade Organization says that if he’s selected he’ll focus on restarting long-stalled global talks to lower trade barriers.

Roberto Azevedo says he’d strive to build consensus between developed and developing countries in hopes of resuming the so-called Doha Round of talks that began in 2001 but have not reached agreement.

Azevedo told a news conference Thursday in Brasilia that the talks’ failure has sparked “serious and concrete differences” among the trade organization’s 157 member states.

The 55-year-old Azevedo has been Brazil‘s ambassador to the WTO. In his bid to replace the WTO‘s outgoing director general, Pascal Lamy of France, Azevedo is up against seven other candidates from countries including South Korea, Jordan, Kenya, Costa Rica and Mexico.

Source: FULL ARTICLE at Fox World News