Committed to PEOPLE'S RIGHT TO KNOW
Vol. 5 Num 811 Wed. September 06, 2006  
   
Business


Revival of WTO Talks
China seeks concessions from rich nations


China has urged rich nations to make more concessions to revive stalled World Trade Organization (WTO) negotiations during talks with WTO head Pascal Lamy, the commerce ministry said Tuesday.

"The Chinese side supports the early resumption of talks and also hopes to play a constructive role towards this end," the ministry quoted Commerce Minister Bo Xilai as telling Lamy in talks Monday.

"At present, we need the developed (country) members to take the lead in making substantial concessions in order to create conditions for the quick resumption of the (WTO Doha Round) negotiations."

Bo made a similar call last week for developed nations to "contribute" while meeting with Susan Schwab, the visiting US trade representative.

Beijing has actively participated in the Doha Round of trade liberalization talks while "earnestly" implementing commitments it agreed to upon entry to the multi-lateral trading body five-years ago, Bo said in a statement posted on the ministry website.

During the talks Monday, Lamy expressed gratitude for China's support in resuming the trade talks and pledged efforts to ensure the interests of developing countries would be advanced if the round resumed successfully, the statement said.

In late July, Lamy suspended five years of Doha Round negotiations because of a failure by the six major trading powers to reach a compromise on tariffs and subsidies. At the same time, he asked WTO members not to withdraw their existing liberalization offers.

EU trade chief sees talks

stalled until Nov US Polls

Another report from Strasbourg adds: Collapsed WTO free-trade talks are unlikely to be revived before mid-term US Congressional elections in November, EU Trade Commissioner Peter Mandelson said on Tuesday.

"Quite frankly, we will have to wait until after the mid-term elections in the US are over for the negotiations to move again," he told lawmakers at the European Parliament.

Five years of talks at the WTO ground to a halt in July after negotiators failed to hammer out the framework for an agreement.