BEIJING, June 2 -- Trade ministers from 21 Asia Pacific economies opened a
two-day meeting yesterday in Vietnam focused on pushing for progress on stalled
global trade talks.
Ministers from the Asia Pacific Economic Cooperation forum gathered in Ho
Chi Minh City to discuss how to move forward on the Doha round of World Trade
Organization talks, which have been held up over disagreements over cutting
tariffs and subsidies.
Vietnam's Trade Minister Truong Dinh Tuyen said APEC members plan to offer
specific recommendations to reignite the stumbling talks that began in 2001 in
Qatar's capital Doha.
"APEC trade ministers will deliver a strong and credible message to advance
WTO negotiations that goes beyond a political statement and includes specific
proposals," he said.
"APEC has a crucial role to play in salvaging WTO negotiations."
WTO Director-General Pascal Lamy is attending the meeting, which is also
expected to address free trade and investment goals for the region.
Ahead of the talks, US Trade Representative-designate Susan Schwab said the
meeting is being held at a critical stage for WTO negotiations.
"This week's meeting comes at a crucial period for the WTO negotiations and
I look forward to working with my Asia-Pacific colleagues to bring new energy
and focus to the negotiations," she said.
The 149 WTO members missed a key April 30 deadline to agree on precise
formulas for cutting subsidies and tariffs, and are now aiming to conclude that
deal as soon as possible before July.
That deadline was supposed to set up a conclusion to the Doha talks by the
end of the year.
The talks aim to boost the global economy and lift millions out of poverty
worldwide by lowering trade barriers across all sectors, with an emphasis on
poorer nations.
However little progress has been made because of disagreements between the
United States and the European Union, and demands by developing countries that
rich nations do more to open up their farm markets.
US Deputy Trade Representative Karan Bhatia said on Wednesday he is hopeful
that APEC members - who account for nearly two-thirds of the global economy and
nearly half of world trade - can play a key role in bringing the talks back on
track.
"If there's any region of the world that has benefited from free and
globalized trade, it's the Asia Pacific region...We expect this region to be
strongly supportive of an ambitious Doha agenda," he said.
(Source: Shanghai Daily)