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Global trade talks continue amid reviving optimism
(Xinhua)
Updated: 2008-07-28 09:00

GENEVA -- A crucial bid to salvage the long-stalled Doha Round of global trade talks continued Sunday after signs of emerging consensus revived hopes of reaching a deal in an extended week of discussions.

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Ministers from over 30 members of the World Trade Organization ( WTO) returned to the contentious issues in the areas of agriculture and industry following a one-day shift Saturday to the services sector, a key priority for developed countries.

The WTO major players have been engaged in a crucial effort since Monday to bridge their lingering divergences on agriculture and industrial goods trade so as to wrap up the Doha Round of global trade talks this year.

The Doha Round, officially launched in 2001, had been deadlocked in the past seven years mainly due to differences between the developing and developed countries over agriculture and non-agricultural market access.

Friday saw a tentative breakthrough in the two areas after the negotiations had been on the verge of collapse.

Seven trading powers within the WTO, namely Australia, Brazil, the European Union (EU), India, Japan, the United States and China, found common ground on the draft agreement proposed by WTO Director-General Pascal Lamy.

Saturday's primary talks on the services sector injected new optimism into the negotiations which had been scheduled for a week but were extended until Wednesday this week.

"Whether it was the developed countries or the developing countries' participants, this conversation about services, the first really that the ministers have had together, was a good step forward, a positive step forward," said U.S. Trade Representative Susan Schwab.

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