Asean urges WTO to resume trade talks by year-end
Afp, Kuala Lumpur
Southeast Asian nations said Wednesday that stalled global trade talks must resume before the end of the year, and that a way forward must be forged in agriculture and market access. " Asean believes that WTO members must put the process back on track before the end of 2006, and recognise that necessary breakthroughs in critical negotiations areas of agriculture and non-agriculture market access are needed," the regional bloc said in a statement at economic ministers' talks here. The faltering World Trade Organization (WTO) Doha trade round was suspended last month amid a bitter dispute between Europe and the United States over farm tariffs and subsidies. Expressing deep concern over the suspension of the trade talks, the Association of Southeast Asian Nations (Asean) said the multilateral trading system cannot afford a "failure" in the Doha negotiations. "This suspension has systemic implications on the efficacy of the multilateral trading system and its ability to continue to deliver key benefits in terms of trade liberalisation in goods and services," it said. Japan, Southeast Asia agree to study trade bloc Another report adds: Southeast Asian nations and Japan agreed Wednesday to investigate establishing a giant 16-nation Asian trade bloc, but the two sides must first overcome a wrangle over their own free-trade deal. Japan has proposed a massive new trade zone embracing half the world's population, from the 10-member Association of Southeast Asian Nations (Asean) plus China, Japan, South Korea, Australia, India and New Zealand. Despite the dispute, Asean economic ministers meeting here agreed to Japan's plan to carry out a study conducted by academics from the 16 nations into the prospects of an East Asia trade bloc.
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