Doha Free Trade Negotiations Could Create 21 Million Jobs, ICC Chairman Says

Doha , April 22 (QNA) - Honorary Chairman of International Chamber of Commerce Victor Fung said Monday that he expected profits of $1 trillion to the global GDP if the Doha Development Round goes ahead. The trade negotiation had collapsed some 12 years ago. Fung was speaking today to reporters on the sidelines of the World Trade Agenda and said that the success of the negotiations can create up to 21 million job opportunities. He said that the negotiating parties agreed on around 80% of the matters put on the table. Fung stressed however that the benefits of the Doha Development Round negotiations will not be seen unless the negotiators agree on the remaining 20%. Fung also called on supporting economies through liberalizing trade rather than focusing on the economic crisis. He noted that it was important that the World Trade Agenda Conference had a big attendance, more than 2000 people participated, in order to raise the conference's resolutions to the G-20 meeting in Saint Petersburg. For his part, CEO of Qatar Chamber of Commerce and Industry Remy Rouhani said that the Qatar Chamber had contributed to some of the articles of the agenda, along with the contributions made by the International Chamber of Commerce. He noted that the five articles of the World Trade Agenda were in compliance with the vision of the State of Qatar of backing economies of poor countries. Experts participating in the conference said that by lifting some of the tariffs, the developing countries can create some 18 million jobs out of the 21 million they viewed were possible. They praised the initiative made by the Qatar Chamber of Commerce and the International Chamber of Commerce to try to put the Doha Development Round negotiations back on track. The Doha Development Round were World Trade Organization (WTO) negotiations that took place in Doha in November 2001, with the aim of limiting trade barriers across the globe. The negotiations have failed to materialize until they reached a halt back in 2008. (QNA)