United States Trade Representative Ron Kirk said on Friday the global financial crisis had created ”a real imperative” to conclude a new global free-trade agreement.
But Kirk, attending a world trade ministerial meeting in New Delhi this week, said there was a lot of hard work to be done to narrow differences on issues such as farm subsidies, market access and tariffs on industrial goods, before clinching a deal.
The financial crisis ”creates a real imperative, a real momentum for us to move forward” on the Doha free trade accord, he told reporters at the close of the day’s ministerial level talks in the Indian capital.
President Barack Obama’s top trade envoy said the US believed bilateral and multilateral discussions were needed for agreement in the eight-year-old World Trade Organisation (WTO) Doha round, which has been dogged by failure.
He declined to reaffirm 2010 as the deadline for concluding the trade deal, saying that ”substance will drive this process, not setting a deadline and timeline”.
”The toughest part of a marathon is the last two miles, there is a lot of hard work to be done,” he said.
Wealthy nations, including the US, and emerging nations agreed at a summit in July to try to conclude the Doha Development Round in 2010.
Ministers agreed on Friday to resume high-level talks in Geneva on September 14 in a move hailed as a ”breakthrough” by Indian Trade Minister Anand Sharma.
Kirk praised India for taking the initiative to host the meeting, which was aimed at setting out a roadmap for concluding the Doha round that seeks to lift hundreds of millions of people out of poverty and boost world commerce.
Obama has joined other world leaders in calling for a successful conclusion of the Doha talks, but analysts say he faces pressure from domestic industry groups who are likely to seek protection.
Since he came to office in January, Obama has avoided any showdown with labour groups who have wide influence in his Democratic Party and who are generally sceptical about free-trade agreements. — Sapa-AFP