End of road for the WTO round?

[Ram]

World trade talks reportedly fail Marathon talks in Geneva aimed at liberalising global trade are reported to have ended without agreement. The trade talks collapsed after China, India and the US failed to agree on import rules, trade officials told news agencies Reuters and AP. Earlier, European Union Trade Commissioner Peter Mandelson warned a stalemate was an "appalling" prospect. The talks were launched in 2001 in Doha and were seen as providing a cornerstone for future global trade. An official statement is expected later after ministers have concluded a meeting. The negotiations had floundered as trade officials gathered for a ninth day. Repeated failure The Doha development round of trade talks initially started in 2001 with the aim of remedying inequality so that the developing world could benefit more from freer trade. However, the talks have repeatedly collapsed as developed countries failed to agree with developing nations on terms of access to each others' markets. The US and the European Union want greater access to provide services to fast-growing emerging countries, including China and India. Meanwhile, developing countries want greater access for their agricultural products in Europe and the US. Analysts have said that the collapse of the Doha talks could symbolise an end to multilateral trade agreements. Instead, nations may pursue dual agreements with partner nations, preferring to focus on their own requirements rather than a more common negotiating goal. The talks in Geneva were complicated by recent increases in the price of food and fuel. Higher prices have prompted protests in both developed and developing nations, making it harder for negotiators to reach a compromise on opening up their markets to greater competition, analysts said. http://news.bbc.co.uk/2/hi/business/7531099.stm ---------------------- I think with that, we can officially declare the WTO talks dead. The developed and developing world were NEVER going to see eye-to-eye on farming subsidies and services liberalisation. Good bye Free trade!

[Guest dada_rocks]

Or support karo Obama ko:--D.. You can put these agreement in dustbin if he comes to power.. No ban on farm subsidy by americans means no further opening of market for videshi goods in india.. India must remain steadfast on this.... Good job Kamalnath ( 1984 sikh riot fame)