New round of global trade talks kicks off in Germany
Negotiations aimed to steady the global economy after the 2001 attacks on the US, and help developing countries trade their way out of poverty, but have floundered over how to lower barriers to commerce, especially in farm and industrial goods. Without a breakthrough soon, the talks could be put on hold for several more years.
Irish farmers fear a world trade agreement would reduce Ireland’s agricultural output by 27%, and cut national farm income by 36%.
Representatives meeting in Germany will have the blessing of the world leaders at last week’s G8 get-together “to bring negotiations to a prompt, successful conclusion”.
WTO chief Pascal Lamy told the G8 group that a global free trade deal was “now within reach” if each negotiator helped to bridge remaining gaps.
Leading the G8 talks, German chancellor Angela Merkel said a trade deal is “eminently important” to “guarantee fair trade conditions for developing countries”.
