EU warns of ‘minimalist’ WTO deal

STRASBOURG – Europe’s trade chief said on Monday there was a risk of “minimalist outcome” from five years of negotiations for a deal to free up global commerce and that it was up to other countries to make sacrifices.

In his first speech since a six-day World Trade Organisation (WTO) meeting in Hong Kong in December yielded scant progress, Peter Mandelson told the European Parliament it was not clear that a wide-ranging global trade deal could be reached. While an ambitious agreement remained possible, “the road ahead will be tough”, the EU Trade Commissioner said.The 25-nation EU has so far withstood fierce criticism from the US, Brazil and Australia that it has not gone far enough with its offer to lower barriers to agricultural imports, as part of the WTO round which was launched in 2001.- Nampa-ReutersWhile an ambitious agreement remained possible, “the road ahead will be tough”, the EU Trade Commissioner said.The 25-nation EU has so far withstood fierce criticism from the US, Brazil and Australia that it has not gone far enough with its offer to lower barriers to agricultural imports, as part of the WTO round which was launched in 2001.- Nampa-Reuters