‘It’s now or never’ for world trade deal

LONDON – The world is at a “now or never moment” to rescue talks on a global trade deal, British finance minister Gordon Brown said in an interview published in the Financial Times yesterday.

“The groundwork has already been done and there is a chance from November onwards to move the trade talks onwards,” said Chancellor of the Exchequer Brown, the favourite to succeed Prime Minister Tony Blair when he steps down next year. “I would like global companies to stress to people the importance of this.This is a now or never moment to get the trade talks on course for a settlement.”The so-called Doha Round of talks among World Trade Organisation (WTO) members ground to a halt in July amid bitter differences, especially over the lack of concessions on agriculture products which held up negotiations on industrial goods and services.The talks aimed at encouraging free trade and striking down protectionism which began in 2001 have consistently been dogged by disputes between rich and poor nations, as well as among wealthy players such as the United States and the European Union, over the concessions required.Nampa-AFP”I would like global companies to stress to people the importance of this.This is a now or never moment to get the trade talks on course for a settlement.”The so-called Doha Round of talks among World Trade Organisation (WTO) members ground to a halt in July amid bitter differences, especially over the lack of concessions on agriculture products which held up negotiations on industrial goods and services.The talks aimed at encouraging free trade and striking down protectionism which began in 2001 have consistently been dogged by disputes between rich and poor nations, as well as among wealthy players such as the United States and the European Union, over the concessions required.Nampa-AFP