The Obama administration lauded an agreement on trade rules struck by the World Trade Organization, while analysts said the deal may do more to salvage broader WTO talks than solve food shortages and help global commerce.
In speeches, press briefings and published commentaries, proponents of global free markets are proclaiming that a really big deal is on the table this week at the World Trade Organization meeting in Bali, Indonesia.
Negotiators are seeking to salvage the credibility of the World Trade Organization at a meeting in Bali this week, as the lack of agreement over farm subsidies threatens to end 12 years of talks on a global trade pact.
The World Trade Organization needs a face-lift to make it relevant in the 21st century, said Kenya’s Amina Mohamed, one of nine candidates to replace Pascal Lamy as WTO director general when his term expires in August.
Hundreds of destitute migrants from Africa and the Middle East died in two shipwrecks this month while attempting to reach the shores of Italy. In the meantime, wealthy Chinese, Indians, Russians and South Africans continue to glide serenely to their favored European destinations as they flee their increasingly unstable countries.
World Bank President Robert Zoellick criticized President Barack Obama’s administration for failing to provide leadership in the Doha round of trade talks and adopting a defensive stance that helped stall discussions.
South Africa won’t support a scaled- down version of World Trade Organization talks that departs from the developmental mandate of the Doha round of discussions, Trade and Industry Minister Rob Davies said.
The World Trade Organization wrapped up its ministerial meeting without deciding how to revive global commerce talks, focusing instead on welcoming Russia to the fold and securing a government-procurement accord.