WTO Meeting Fails to Make Progress on Global Trade Negotiations

Bloomberg
By Jennifer M. Freedman
December 17th, 2011
 
"The World Trde Organization wrapped up its ministerial meeting without deciding how to revive global commerce talks, focusing instead on welcoming Russia to the fold and securing a government-procurement accord.
Efforts to reach an agreement during the Doha Round of trade talks have been blocked for years as the countries fail to make concessions on lowering agriculture subsidies and industrial tariffs. Ministers including U.S. Trade Representative Ron Kirk  have said the round needs a new approach after a decade of unsuccessful attempts to bridge gaps among 153 nations.
The highlights of the three-day ministerial meeting that began in Geneva on Dec. 15 were the accessions of Russia, Samoa and Montenegro and a 42-nation agreement that opens up government-procurement contracts valued at as much as $100 billion to more foreign competition..."

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