Ministers insist on Doha Round renewal, welcome global China

11 Sep '06

3 min read

The collapse of the Doha Round of global trade negotiations under the World Trade Organization (WTO) was a major blow to developing economies and resumption of the talks is an urgent priority, senior government ministers from Egypt, India and Japan told participants at the World Economic Forum's China Business Summit 2006.

The Doha Round is supposed to be “a development round” with developing economies the main beneficiaries, Rachid reminded Summit participants. “We need to see that development is the outcome of this Round.”

China can play a key role in pushing the Round to a successful conclusion, Rachid said, noting China's growing trade and investment with Egypt and the Middle East.

“This diversification is bringing China and Asia into our market for the long term. We are entering a new phase in our relationship.” China, Minister Sibal added, is playing a constructive role in promoting Asian regional integration.

Like India, he said, “China is engaged and building partnerships to send a message to the world that it will play by the rules of the game. Let the rules of the game be fair.” Takemoto stressed that strong relations between Japan and China are vital for sustainable growth in Asia and the world.

Two other panellists in the session doubted that the Doha Round could be concluded anytime soon. Jean-Pierre Lehmann, Professor of International Political Economy, IMD (International Institute for Management Development), Switzerland, blamed the US, Europe and Japan for the collapse of the talks. Unless a new multilateral trading system is created, the global economy could end up fragmented.

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