Thursday, 20 November 2008

Cambodia urges unity among poor nations on trade

News One

Staff and agencies
19 November, 2008

He also lashed out at wealthy nations for maintaining trade barriers that hurt poor countries, such as farm subsidies and high food safety standards.

He spoke in a speech opening a two-day conference of industry and trade ministers from 49 so-called least developed countries in Siem Reap province, Cambodia‘s tourist hub.

The World Trade Organization‘s Doha Round talks that began in 2001 broke down in July because of a dispute among India, China and the U.S. over tariffs to protect farmers in developing markets.

Protectionism will only cause more pain to the development prospects of poor countries that are now facing "profound and possibly prolonged effects" from the global financial crisis, WTO Director-General Pascal Lamy said at the conference.

He urged WTO members to agree by the end of the year on methods for settling disagreements on agriculture and industry in order to provide "a stepping stone" toward the conclusion of the Doha Development Round in 2009.

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