Interviews
WTO - Lamy urges breakthrough in trade negotiations
17 Apr '07
3 min read
LAMY URGES BREAKTHROUGH IN TRADE NEGOTIATIONS Director-General Pascal Lamy told the IMF-World Bank International Monetary and Financial Committee on 14 April 2007 in Washington that if the situation in the trade negotiations does not change soon “governments will be forced to confront the unpleasant reality of failure”. To the World Bank Development Committee on 15 April 2007, he said that “now that we have focused minds — and raised expectations — we need to deliver results” on Aid for Trade.
Speaking Notes, International Monetary and Financial Committee Meeting:
My message should come as no surprise. The decision by WTO Members in February to resume the Doha trade negotiations across the board has not yet led to the incisive breakthrough needed in order to bring the Round to a successful conclusion by the end of this year. Although this objective has been reaffirmed no later than 2 days ago by G4 ministers meeting in Delhi, if the situation does not change soon, governments will be forced to confront the unpleasant reality of failure.
Failure to lock-in the very significant package of trade liberalisation and rule-making that is available. Failure to deliver on the core development objectives of this negotiation. Failure of the first WTO trade Round, and of one of the most important exercises in multilateral economic cooperation of the past decade.
I ask you this morning to reflect seriously on what that would mean.
First, losing the benefits of a new decade of global trade opening that this Round has the potential to deliver. The Uruguay Round began a sustained process of economic integration and falling import prices that made a vital contribution to strong and non-inflationary growth, worldwide.
Speaking Notes, International Monetary and Financial Committee Meeting:
My message should come as no surprise. The decision by WTO Members in February to resume the Doha trade negotiations across the board has not yet led to the incisive breakthrough needed in order to bring the Round to a successful conclusion by the end of this year. Although this objective has been reaffirmed no later than 2 days ago by G4 ministers meeting in Delhi, if the situation does not change soon, governments will be forced to confront the unpleasant reality of failure.
Failure to lock-in the very significant package of trade liberalisation and rule-making that is available. Failure to deliver on the core development objectives of this negotiation. Failure of the first WTO trade Round, and of one of the most important exercises in multilateral economic cooperation of the past decade.
I ask you this morning to reflect seriously on what that would mean.
First, losing the benefits of a new decade of global trade opening that this Round has the potential to deliver. The Uruguay Round began a sustained process of economic integration and falling import prices that made a vital contribution to strong and non-inflationary growth, worldwide.
World Trade Organization
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