Trade & investment

Real progress must follow G8 pledges on Doha Round-ICC says

  • 12 June 2007

ICC today welcomed the declaration on the Doha Round of multilateral trade negotiations issued at the G8 Summit last week in Heiligendamm, Germany and called on G8 leaders to translate their pledges into concrete progress at the negotiating table in the coming weeks.

ICC commended the G8’s recognition of “the need for achieving an ambitious, balanced and comprehensive agreement on the Doha Development Agenda (DDA), which will enhance worldwide trade especially among and between developed and developing countries and reinforce multilateral trade rules.”

ICC is encouraged by the G8 leaders’ pledge “ to work with a high level of ambition in all areas of the DDA” and by their call on all WTO members to demonstrate constructive flexibility to bring these negotiations to a prompt and successful conclusion.

ICC attached particular significance to the G8 leaders’ statement that the time had come to translate their continued commitment at a political level into tangible results.

“The strongest possible engagement by political leaders at the very highest level is crucially needed over the coming weeks if this latest pledge by G8 leaders is to have a concrete and positive effect on current efforts to reach agreement on modalities by end-June,” said ICC Chairman Marcus Wallenberg.

“Now is the time for decisive leadership in deeds as well as words, from G8 leaders and from political leaders in major emerging economies, to break the logjams that have bedevilled the Doha Round to date in some prominent and politically sensitive areas,” he continued. Mr Wallenberg is also the Chairman of Skandinaviska Enskilda Banken and Saab.

ICC urged G8 leaders to spare no effort to successfully conclude the Round by the end of 2007.