Suspension of trade talks 'a setback' By Dai Yan (China Daily) Updated: 2006-07-26 14:52
China said yesterday that the indefinite suspension of global free trade
talks is a setback to all members of the World Trade Organization
(WTO).
The Doha Round of negotiations are critical to a balanced and
orderly development of the world economy, said Chong Quan, spokesman for the
Ministry of Commerce.
"We will work with other sides and try to
resume negotiations as soon as possible," said Chong.
He made the remarks
after the trade talks, seen as a once-in-a-generation chance to boost growth and
ease poverty around the world, collapsed following nearly five years of haggling
because of wide gaps between key players. Resumption of talks could take
years.
WTO Director-General Pascal Lamy suspended the negotiations on
Monday after talks among six major members broke down. Ministers from Australia,
Brazil, the European Union, India, Japan and the United States had met in Geneva
to try to follow up on instructions from the St Petersburg Summit of the Group
of Eight industrial nations on July 17.
Lamy told heads of delegations in
the informal meeting that he would recommend a "time out" to the General Council
tomorrow. He did not suggest how long the talks would be suspended.
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