Trade & investment
G4 must reach consensus now for Doha trade round to succeed by year-end
ICC today called on leaders of the G4 countries (Brazil, EU, India and US) to reach consensus on a framework agreement for agriculture and industrial tariffs, which is absolutely essential for a successful conclusion of the Doha round of global trade negotiations by the end of the year.
The top trade negotiators of the G4 are meeting this week in Potsdam, Germany – Brazilian Foreign Minister Celso Amorim, EU Trade Commissioner Peter Mandelson, Indian Trade Minister Kamal Nath, and US Trade Representative Susan Schwab.
“The time for agreement is now: there is not a minute to spare for the G4 to find a common position on a framework for liberalizing trade in agricultural and industrial products by the end of July,” said ICC Chairman Marcus Wallenberg. “This should hopefully give enough time to governments to hammer out the technical details so that a final deal can be reached by year-end.”
“A Doha deal is within reach at long last – provided world leaders at the very highest level put their full weight behind this objective,” said Mr Wallenberg, who is also the Chairman of the Swedish banking group SEB.
“A successful Doha round agreement will create opportunities to raise living standards in both developed and developing countries. It will also reinforce the multilateral trading system that has served the world so well for the past 60 years,” Mr Wallenberg went on to say.
ICC –the world business organization that speaks on behalf of enterprises from all sectors in every part of the world– has consistently called for strong government action to reach an agreement on the Doha round that is ambitious, balanced and comprehensive.