WTO chief says hopes of Doha deal are uncertain
Seoul: The World Trade Organisation chief
urged members on Monday to resist protectionist pressure in the
wake of the economic crisis, but said hopes of an early deal
to free up international commerce are uncertain.
"In February this year, the global economic downturn was
peaking," WTO director general Pascal Lamy told a forum.
"Less than a year on, progress has been made but we are
not yet out of the woods."
Lamy, in a speech and comments at a press conference,
said the volume of world trade this year would shrink by
slightly more than 10 percent, "which is unprecedented in
In this environment, he said, "pressure for protectionist
actions...with their illusory gains for the domestic economy,
will not necessarily diminish any time soon."
Lamy said success in completing the Doha round of trade
talks next year as scheduled was vital to signal business and
consumer confidence, and would strengthen the hand of
governments as they confront protectionist pressures.
"This will not occur unless they are all ready for heavy
political lifting at home," he said, adding there would be a
"crunch time meeting" in the first quarter to check if the
goal was attainable.
Prospects for meeting the deadline remain uncertain, he
said. "The jury is still out until the end of the first
quarter of next year."
More from India
More from World
More from Sports
More from Entertaiment
- Watch: PM Narendra Modi addressing rally in Imphal
- Will Shiv Sena join hands with Congress to stop BJP from entering BMC?
- Report: Are mobile smartphones more unhygienic than toilet seats?
- Delhi: Three-year-old twins die after falling into washing machine in Rohini
- BSF catches cow slaughter gang near India-Bangladesh border in Malda
- Ind vs Aus: Mohammed Azharuddin says Jayant Yadav and Ishant Sharma should be replaced in next Test
- WATCH: Kieron Pollard's epic celebration after destroying Lahore Qalandars in Dubai
- Indian doctor rescued from ISIS recounts horror, says 'they forced me to watch videos, shot me thrice'
- Mitchell Johnson takes a dig at Anil Kumble over calling Steve O'Keefe 'steady'
- India vs Australia, 1st Test, Day 3: As it happened...