Maravi

Zoellick calls for retrieval of Doha Development Agreement

Zoellick calls for retrieval of Doha Development Agreement
By Joan Chirwa
Friday August 22, 2008 [04:00]

WORLD Bank president Robert Zoellick has warned that it would be a mistake for the world economy and harmful for developing countries not to retrieve the failed Doha Development Agreement. Zoellick said it did not make sense for the Doha negotiations to fail upon the barrier created by rising food prices around the world and the need for poor people to lower their cost of food.

“As the dust settles from the breakdown of the World Trade Organisation (WTO) negotiations in Geneva, some parties are recognising that there was a good package of results left on the table,” Zoellick said. “It would be a mistake for the world economy and harmful for developing countries not to retrieve it. Given the high food prices around the world and the need for poor people to lower their cost of food, it just does not make sense for the Doha negotiations to founder upon this barrier.”

Civil society in Zambia has said the collapse of the Doha Development Round provides major lessons for both developed and poor countries, accusing the European Union (EU) of placing more emphasis on the timeframe to sign agreements than considering the issues and capacity constraints affecting poor countries.

The WTO negotiations on the Doha Development Agreement between developed and least developed countries (LDCs) failed in Geneva last month after the two groups reached a deadlock over agricultural subsidies, a key issue of the trade agenda.

Zoellick further supported Brazilian President Luiz Inacio Lula da Silva’s call on parties not to let the WTO negotiations fail because of differences over a special safeguard for agriculture.

“Brazil, a developing country that is both a major agricultural exporter and home to many poor farmers, can help,” said Zoellick. “There is a good Doha deal still to be seized.”

Labels: DOHA, World Bank, ZOELLICK

posted by MrK @ 4:58 AM