A Chinese high-level finance official on Saturday called on the Group of Eight (G8) industrial nations to play a more active role in moving forward the Doha round of trade talks.

 

China's Vice Minister of Finance Li Yong and finance officials from the rising economies of India, Brazil and South Africa discussed global economic growth and trade with G8 finance ministers at a G8 meeting in Moscow.

 

China believes efforts should be made to build on the achievements of the World Trade Organization Ministerial Meeting held in Hong Kong in December 2005, and move forward the Doha Round of trade talks toward a comprehensive and balanced agreement, Li said.

 

While providing aid for trade to developing countries, developed countries should take the lead in reducing tariffs on agricultural products and farm subsidies, enhancing market access, improving the trade environment and implementing special and differentiated policies for developing countries, Li said.

 

Other parties acknowledged the progress made at the Hong Kong Ministerial Meeting in reducing farm export subsidies, the cotton issue, the abolition of tariffs and quotas for the world's least developed countries, and developed countries' commitments to increase aid for trade to developing countries.

 

But differences remain including over such core issues as agriculture and market access for non-agricultural products. And participating countries in the trade talks were urged to show greater political resolve in completing the Doha Round by the end of 2006.

 

(Xinhua News Agency February 13, 2006)