EU calls for restart of trade talks
European Union finance ministers have called for a restart of trade talks, which collapsed in July due to disagreement between developing nations, like Brazil, and rich states like the US and EU. Finnish Finance Minister Eero Heinaluoma said the EU deeply regrets the collapse of the talks. Finland olds the rotating EU presidency. The current Doha round of trade talks has already taken 5 years.
The current Doha round of trade talks, which opened in the Qatari capital in 2001, was aimed at removing agricultural and industrial trade barriers and using commerce to give developing countries a boost.
It was meant to yield a trade treaty by the end of 2004, but the target was later shifted to December 2006.
EU Trade Commissioner Peter Mandelson said last week in Strasbourg that talks were unlikely to be revived before mid-term US Congressional elections in November.
While the WTO talks languish, the EU is in the meantime sniffing around for possible bilateral deals with trade partners, and will in particular be seeking to advance that cause at a meeting of European and Asian leaders to take place in Helsinki on Sunday and Thursday.CLICK HERE FOR THE FULL ARTICLE AT the EUBusiness.
Administrator @ September 11, 2006