In a statement released today, ICC has warned WTO members and G20 governments that many hard-won outcomes may be lost if the Doha Round of trade negotiations are not concluded as soon as possible.
Expressing disappointment at an apparent lack of political will, ICC calls for an ambitious, balanced and expeditious conclusion and makes a number of practical recommendations in order to achieve this.
“Without a concerted effort by WTO members, and G20 countries in particular, to narrow their differences on a few key issues and to make the adjustments necessary to the package currently on the table, there is a very real danger that the result of over eight years of negotiations might be lost or set aside indefinitely,” ICC said.
Entitled The risks of non-Doha, the policy statement, prepared by the ICC Commission on Trade and Investment Policy, seeks to impress upon WTO members the urgent need to complete the Doha Round by highlighting some of the potential risks to the global economy of not doing so. The risks include: a weakening of the multilateral trading system, a foregone opportunity to strengthen WTO rules and liberalize world trade, and a potential rise in protectionism and economic nationalism.
The statement urged: “By concluding the Doha Round, governments would demonstrate unambiguously and concretely that they are serious about fighting protectionism, bolstering international trade, and strengthening the multilateral trading system.”
The policy statement is being conveyed to governments through ICC’s network of national committees.
Click here to read full statement: The risks of non-Doha
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