The Hindu : International : WTO negotiators reach tentative accord

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Sunday, Aug 01, 2004

International

International

WTO negotiators reach tentative accord

GENEVA, JULY 31. Negotiators working on a new framework for global trade on Saturday reached tentative agreement on major issues and were expected to call in Trade Ministers to approve the deal, trade officials said.

Some 20 countries representing the full range of positions wrapped up negotiations on the key issues of agriculture, industrial tariffs and streamlining customs procedures, said Keith Rockwell, spokesman for the World Trade Organisation.

The deal now must be put to all 147 WTO members, who must accept it by consensus. Although no time was set for that meeting, officials said they expected it around 7 p.m. (1700 GMT).

The framework will lay the foundations for a full-scale trade treaty aimed a cutting subsidies and import tariffs, which negotiators claim would give a boost to the global economy.

The framework is the goal of this trade ``round,'' which began in 2001 in Doha, Qatar.

The tentative agreement followed soon after the negotiating group — which met virtually non-stop for 24 hours — found common ground on the most difficult area — agriculture.

The Brazilian Foreign Minister, Celso Amorim, a key figure in the closed-door talks, said negotiators had made ``positive'' changes to a mediator's text proposed on Friday.

``The text was unbalanced,'' Mr. Amorim said. ``Now I think it is balanced within the possibilities.'' — AP

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