Emerging economies stand firm against rich nations at WTO

  • 23/07/2008

  • New Age (Bangladesh)

Emerging economies challenged rich countries to prove their goodwill on Tuesday at crucial World Trade Organisation talks, which were hamstrung by the absence of the Indian trade minister. Ministers from about 35 key nations are meeting in Geneva this week to break seven-year deadlock over a new global trade deal. But so far, emerging markets have expressed frustration at the lack of concrete moves from big developed parties such as the United States and the European Union. An attempt by EU trade commissioner Peter Mandelson to jolt the talks into movement on Monday with a proposal to extend EU tariff cuts on agricultural products to 60 per cent from 54 per cent, looked like a damp squib on Tuesday. Even Mandelson's fellow EU commissioner Mariann Fischer-Boel said the offer was