Ministers from trade powers are likely to meet in the week of May 19 for their long-awaited push for a breakthrough in global trade talks, European diplomats said on Saturday. "It's not yet been agreed but the idea is for technical-level talks in Geneva the week of May 12 followed by a ministerial meeting in the week of May 19," one of the diplomats told Reuters.
World Trade Organisation Director-General Pascal Lamy said on Thursday ministers were likely to meet at the WTO in Geneva by the end of May to seek an outline deal on the Doha round.
The negotiations for a global trade deal were launched to much fanfare in late 2001 to bring down barriers to exports around the world, giving developing countries a better chance of fighting poverty and to give the global economy a boost.
But the talks have limped from crisis to crisis and without a breakthrough in the coming weeks they could suffer further years of delay as the White House changes hands and a new European Commission takes office in 2009, and key developing countries such as India face elections. A trade official cautioned that the negotiations had slipped behind schedule on several occasions in the past but a meeting of ministers was likely around mid-May.
Ministers need to agree on politically sensitive headline figures for tariff and subsidy cuts in the core areas of agriculture and industrial goods, and on which sensitive products would be shielded from the tariff cuts.
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