The World Trade Organization needs to complete the Doha Round of talks as the group of nations has to deliver on an unfulfilled promise that has been pending for more than a decade, Herminio Blanco, Mexico’s candidate for the organization’s top post, said.
A decision by the U.S. and European Union to open negotiations on a trade deal may propel the World Trade Organization to restart its own stalled talks, New Zealand’s candidate for the top WTO job said.
World Trade Organization members engaged in the Doha round of trade talks agree on about 80 percent of the issues, and the remainder are solvable, Pascal Lamy , director general of the organization, told Le Matin .
Eliminating subsidies on exports of commodities such as cotton would contribute to a fairer international trading system, boost economic growth and reduce poverty, said World Trade Organization chief Pascal Lamy.
Disagreements about exchange-rate policies may threaten economic stability and commerce while putting the recovery from the worst recession in 60 years in “serious jeopardy,” the World Trade Organization’s chief said.