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WTO chief assures poor nations of bigger say
Published in Saudi Press Agency on 17 - 08 - 2007


World Trade Organization (WTO)
director-general Pascal Lamy said Friday that current trends in
the Doha Round of trade talks assured poor and developing nations of
having a greater say in trade deals, DPA reported.
"There will be no completion of the negotiations without poor and
developing countries getting satisfaction in at least some of their
demands," Lamy said at a trade conference in Malaysia's capital
Kuala Lumpur.
In response to a question on how the imbalance of resources and
negotiation power between developing countries and richer countries
could be ironed out, Lamy gave an assurance that "a large part" of
demands from poorer countries would be met.
"This is the direction," he said. "Developing nations will get a
large part of what they're asking for in this negotiation," he said.
Lamy admitted that while globalization had enabled the breakdown
down of both trade and economic barriers, political and financial
market instability as well as deterioration of energy resources and
environment were its downside.
However, he stressed that imposing new trade restrictions was not
a proactive way to combat the problems, and warned of the damage to a
country's economic standing.
"It is all too easy to allow the blame for lost jobs, economic
insecurity and huge trade deficits to be placed, unchallenged, at the
door of globalization," he said.
"More often than not, the real cause of the pain is not so much
trade, but failure to accompany the efficiency gains of trade opening
with other economic policies."
Lamy said the WTO would continue to play its role as a central
pillar of modern global economic governance to ensure fair trade,
and expressed optimism that the completion of the Doha Round of talks
would deliver on those expectations.
He urged the 151 member states to be dedicated to conclude the
pact to liberalize trade between developed and developing countries.


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