World trade talks in limbo

THE world trade talks, which collapsed last year to the relief of the Irish farm and agri-food sectors, are unlikely to resume for some months and a conclusion to the negotiations that would cut agriculture subsidies and tariffs on industrial goods is not expected this year.

Negotiators failed to overcome a clash in Geneva last July between the US and India over how poor nations could raise tariffs when farm imports surge. The proposals on the table at that time were seen as a potentially devastating blow to Irish agriculture and the agri-food industry.

Pascal Lamy, who has been appointed World Trade Organisation (WTO) director-general for a second four-year term, has said that he cannot re-start a political process without the US being ready. Speaking in Washington, Mr Lamy claimed the US position “is emerging little by little” and is positive, but the process has been slow.