ST. PETERSBURG, Russia, July 16 (Xinhua) -- Leaders from the Group of Eight (G8) countries on Sunday called for concerted efforts to conclude the Doha round of international trade talks to boost economic growth and raise living standards for all.
"We urge all parties to work with utmost urgency for conclusion of the round by the end of 2006, to strengthen the multilateral trading system and provide an important boost for the world's economy," the G8 leaders said in a statement issued at their annual summit in Russia.
"This is a historic opportunity to generate economic growth, create potential for development and raise living standards across the world," they said.
The leaders regretted the failure to wrap up the Doha round during negotiations in Geneva on June 29-July 1. With the Doha round on life support, they may embark on a rescue mission to revive the talks.
The Doha round began four years ago in the Qatari capital with a view on liberalizing global trade rules and reducing subsidies to facilitate the creation of a fairer trading system for developing economies.
The G8 leaders said the poorest developing countries face particular problems in integrating into the international trading system and the round should "deliver real cuts in tariffs, effective cuts in subsidies and real new trade flows."
The G8, which groups Britain, Canada, France, Germany, Italy, Japan, Russia and the United States, holds annual summits on majore conomic themes. Enditem