Do More With Reuters
Partner Services

UPDATE 1-EU-U.S. businesses: Doha needs sector breakthrough

Thu Nov 20, 2008 6:56pm IST
 
Email | Print | | Single Page
[-] Text [+]

(Adds details, background)

By Darren Ennis

BRUSSELS, Nov 20 (Reuters) - European and U.S. business leaders said on Thursday deals scrapping tariffs in individual industrial sectors would increase the chance of a successful conclusion to the World Trade Organisation's Doha round.

"A breakthrough on sectoral tariff agreements by the G20 ... would go a substantial distance toward facilitating the conclusion of the Doha round," BusinessEurope and the U.S. National Association of Manufacturers said in a letter to the EU and U.S. trade chiefs.

"In order for modalities to offer the promise of substantial market openings to the world, however, there will need to be additional reductions in tariff and non-tariff barriers by the advanced emerging countries like China, Brazil, and India," the letter, obtained by Reuters, said.

The leaders of the Group of 20 rich and emerging nations pledged last Saturday to reach an outline agreement in the Doha round by the end of the year. The talks, launched seven years ago to open up world trade, stalled in July after ministers failed to hammer out a deal.

"We believe that the global economy would benefit significantly from a near-term successful conclusion of the Doha round," the letter said.

"However, the unresolved issues in the Doha round are complex ... one way to reduce the number of outstanding issues and reach accord on modalities would be an ambitious outcome in negotiations on the sectoral tariff agreements."

  Continued...

Dubai Debt Fears

Villas are seen on the The Palm, Jumeirah, with Atlantis, The Palm, under construction on the breakwater (crescent), May 3, 2008.  REUTERS/Jumana El Heloueh

Banks outside the Gulf played down their exposure to Dubai debt, after fears the emirate could default and even derail world economic recovery prompted a sell-off in global markets.  Full Article | Slideshow 

India Investment Summit 2009
India Investment Summit 2009

Top executives and bankers discuss their own plans and the broader opportunities and challenges for India.  Full Coverage 

People stroll outside the Taj Mahal hotel ahead of the first anniversary of the militant attacks in Mumbai, November 24, 2009.  REUTERS/Punit Paranjpe
Investors worry about another attack

The risk of militants striking again worries investors who fear that a second attack similar to last year's Mumbai raids could shake the economy.  Full Article | Full Coverage 

Market Update

  • IndiaIndia
  • USUS
  • UKUK
  • Asia
  • Most Actives

road to Copenhagen

BLOGS

Photo
Calculated Move

Reliance aims big with $12 bln bid for LyondellBasell.  Blog 

SHOWCASE

Capital Raising
Capital Raising

Analysis - China banks' rush for billions could trip markets.  Full Article 

 
Photo
Bonus Payout

"Bonus" has become a dirty word on Wall Street.  Full Article 

 
Bubble trouble?
Bubble trouble?

With the BSE Sensex at around 17,000 points, are the Indian equity markets looking at a possible bubble?   Commentary 

 
Funding Blues
Funding Blues

A popular tactic used by Indian brokerages to raise money for rich clients is likely to be banned.  Full Article 

 
Recovery Path
Recovery Path

Indian techie logging out of downturn gloom.  Full Article 

 
Central Banks Cautious
Central Banks Cautious

Reuters tracks the policies of the world's top central banks as the debate over global economic recovery rages on.   Full Coverage 

 
Risky Proposal
Risky Proposal

Rupert Murdoch courts trouble if he blocks Google on news.  Full Article