ID :
14330
Wed, 07/30/2008 - 11:18
Auther :
Shortlink :
http://m.oananews.org//node/14330
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Trade talks hit 'very tense' stage: W.T.O. spokesman
Yoshita SinghGeneva, Jul 30 (PTI) The fate of the W.T.O.
ministerial level talks to forge a global trade deal hangs in balance as the use of a safeguard measure to check imports surges remains the key sticking points between rich and developing nations, who have been engaged in over eight daysof negotiations.
"The situation is very tense. Things are finelybalanced and the outcome is by no means certain," W.T.O.
spokesman Keith Rockwell told reporters Monday.
Rockwell said the rich and the developing countries have been trying to hammer out the differences over use of theSpecial Safeguard Mechanism (S.S.M.).
The spokesman said ministers and officials have beenworking on various formulations on the issue of S.S.M.
The core groups of seven nations that includes India, U.S., Brazil and China will engage in further negotiations tosort the S.S.M. issue.
India has been opposing W.T.O. chief Pascal Lamy's latest proposal under which it will be able to take remedial action only if imports surges by 40 percent. India has contended that this will wreck havoc on the livelihood ofmillions of its farmers.
The ongoing meeting of 30 key trade ministers here has spilled over to the second week with negotiators making some progress in talks on Friday to open markets and cut subsidies in agriculture and industrial goods. PTI YAS AMT
ministerial level talks to forge a global trade deal hangs in balance as the use of a safeguard measure to check imports surges remains the key sticking points between rich and developing nations, who have been engaged in over eight daysof negotiations.
"The situation is very tense. Things are finelybalanced and the outcome is by no means certain," W.T.O.
spokesman Keith Rockwell told reporters Monday.
Rockwell said the rich and the developing countries have been trying to hammer out the differences over use of theSpecial Safeguard Mechanism (S.S.M.).
The spokesman said ministers and officials have beenworking on various formulations on the issue of S.S.M.
The core groups of seven nations that includes India, U.S., Brazil and China will engage in further negotiations tosort the S.S.M. issue.
India has been opposing W.T.O. chief Pascal Lamy's latest proposal under which it will be able to take remedial action only if imports surges by 40 percent. India has contended that this will wreck havoc on the livelihood ofmillions of its farmers.
The ongoing meeting of 30 key trade ministers here has spilled over to the second week with negotiators making some progress in talks on Friday to open markets and cut subsidies in agriculture and industrial goods. PTI YAS AMT
