Possible agreement on world trade deal by May

THE prospects of an outline for a new global trade deal being agreed next month increased in the past week, according to reports from Geneva, where the negotiations are taking place.

World Trade Organisation director-general Pascal Lamy said he would not be surprised if a meeting of ministers to agree an outline took place by the end of May.

The EU’s top trade negotiator Peter Mandelson said he hoped trading nations could reach broad agreement on a trade deal over the next month and a detailed accord in the following six to eight months.