Last-minute trade deal clinched at WTO meeting
Updated: 2005-12-18 18:52
But the draft represents a far less ambitious agreement than WTO negotiators
had originally hoped to achieve in Hong Kong: a detailed outline for a global
free trade agreement that the WTO hopes to forge by the end of 2006, concluding
the current round of development-oriented trade talks that began in 2001 in
The draft agreement noted "the compelling urgency of seizing the moment and
driving the process to a conclusion as rapidly as possible. We must maintain
momentum. You don't close divergences by taking time off to have a cup of tea,"
"To meet this challenge and achieve this goal, we must act decisively and
with real urgency," the text said.
The final draft also calls on wealthy nations to allow duty-free and
quota-free privileges to at least 97 percent of products exported by the
so-called least developed countries by 2008.
In a victory for West African cotton-producing nations, the text retained an
earlier proposal that rich countries eliminate all export subsidies on cotton in
It also represents a concession by the United States, a major cotton
exporter, and U.S. Trade Representative Rob Portman had said the proposal
would be a hard sell to U.S. lawmakers. Cotton growers in Burkina Faso, Benin,
Chad and Mali say the U.S. farm aid drives down prices, making it impossible for
small family farms to compete in international markets.
The Group of 20, a collection of developing nations headed by Brazil and
India, said it was prepared to accept the draft's proposals on agricultural
Portman was noncommittal, saying he had concerns about the final draft but
hoped to end up with an acceptable version.
"Some members have concerns as we do, but in the end there is an overriding
need to come together and work out our differences so I'm hopeful we can do
that," Portman said as he headed from his hotel to the convention center after
reading the draft.
Meanwhile, Hong Kong security forces braced for more fighting and chaos. Some
900 demonstrators, among them many South Korean farmers, were arrested after
they went on a rampage Saturday evening, attacking police with bamboo poles and
barricades and trying to break into a building. Police scattered them with tear
gas and seized control of the area.
Such large-scale violence is rare in this stable Asian financial capital. The
last time the city saw such a melee was during 1967 riots aimed at usurping
British colonial rule. Hong Kong was returned to China in 1997.
Sunday's procession was led by Hong Kong activists, who held a giant red
banner saying "Oppose WTO." The protesters included Thai and Filipino migrant
workers along with Japanese farmers.
Some of marchers were South Korean farmers who carried cardboard signs
saying, "Hong Kong government quickly release our