Global trade agreements unlikely to be agreed this year, politicians fear

POLITICIANS from around the world say they doubt a meaningful global trade agreement will be struck this year and fear the rapid growth of self-serving side deals could kill it off completely.

Their frustrations come as the latest push to improve a draft global deal text by Easter drew a blank in agriculture discussions, and as a months-old initiative by the European Union to help flood-hit Pakistan hit the buffers.

Delegates at the annual World Trade Organisation (WTO) parliamentary conference in Geneva lauded the concept of free trade, saying the existing structure held back protectionism during the 2008 financial crisis.