World Bank President Robert Zoellick said Friday if the draft
texts released this week eventually become the basis of a world
trade deal, all economies should be able to benefit.
"It is particularly important for poor farmers and workers in
developing countries to have greater opportunities to sell their
products in the global marketplace and benefit from lower prices,"
Zoellick said in a statement.
Negotiators in the WTO working on the Doha Development Agenda
brought the discussions one important step closer to bearing fruit,
said the president, who took office on July 1.
They issued draft compromise texts Tuesday on agricultural and
industrial trade to revive the Doha Development Round, dedicated to
reducing global trade barriers and encouraging development.
Under their proposals, the United States would cut farm
subsidies to below US$16.2 billion a year, compared with a current
ceiling of US$19 billion, and 27 developing nations would reduce
industrial import tariffs to less than 23 percent.
Meanwhile, the European Union would slightly reduce its import
farm tariffs to between 52.0 and 53.5 percent, within a range
European Union Trade Commissioner Peter Mandelson has indicated he
is ready to accept, according to news reports.
"I know from personal experience that the negotiations have been
long and arduous," said Zoellick, who was US Trade Representative
from 2001 to 2005 and helped launch the Doha Round in the Qatari
capital in 2001.
"Probably no government will be totally pleased, and many will
find much to criticize," he said. "Nevertheless, the papers reveal
just how much significant progress has already been achieved, and
that the remaining gaps can be specified to achieve compromise,
even though the topics are contentious."
The global community should stay focused on the prize, Zoellick
said. "If the draft texts eventually become the basis of an
agreement, all economies should be able to benefit."
The Doha Round talks had been revived in February and suffered
another jolt last month when the key negotiators -- the United
States, European union, India and Brazil -- failed to agree on the
extent of tariff and export subsidy cuts.
Representatives of the WTO's 150 members are due to meet in
negotiating groups next week in Geneva, Switzerland, to give their
initial reactions to the proposals, according to news reports.
"The World Bank wants to support the negotiators from all
countries -- but especially the poorest -- to gain from a
successful negotiation," Zoellick said in the statement.
(Xinhua News Agency July 21, 2007)
