IBEC concerned at trade talks stalemate

The Irish Business and Employers Confederation (IBEC) today expressed their concern regarding the suspension of World Trade Organisation (WTO) talks in Geneva.

“The suspension of the WTO Doha Round negotiations is a matter of serious concern for an economy like Ireland that relies heavily on trade,” said IBEC’s director of trade policy Pat Ivory.

“A long suspension of the negotiations would result in huge uncertainty on world markets and is not in the interests of developed or developing countries.

“IBEC calls on the all the parties concerned to get back around the table as quickly as possible to reach a balanced agreement, as failure to do so could result in an escalation of trade dispute cases at the WTO.

'The EU has done more than play its part in keeping the WTO talks alive, but there is a continuing unwillingness by the US to reduce its own domestic farm supports.

“Large emerging developing countries such as India and Brazil have also been slow to play their part by agreeing to open up their markets for food and industrial products.”