A Chinese high-level finance official on Saturday called on the
Group of Eight (G8) leading 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 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
told the G8 finance ministers.
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.
The participants at the discussion agreed that global economic
growth remains stable but still faces many challenges. In
particular, the next phase of the Doha Round talks could have great
impact on the sustained, stable growth of the global economy, the
improvement of the multilateral trading system and the global
efforts to reduce poverty, they said.
The participants noted the progress made at the Hong Kong
Ministerial Meeting in December 2005 in reducing farm export
subsidies, the cotton issue, the abolishment of tariffs and quotas
for the world's least developed countries, and developed countries'
commitments to increasing aid for trade to developing
countries.
But, the participants said, differences remain, including over
such core issues as agriculture and market access for
non-agricultural products. They urged participating countries in
the trade talks to show a greater political resolve to complete the
Doha Round by the end of 2006.
(Xinhua News Agency February 13, 2006)
