The sixth WTO Ministerial Conference, which begins in Hong Kong on Tuesday amidst tight security and protests from anti-globalisation activists, intends to break the deadlock in global trade talks over contentious issues of agriculture and industrial tariffs and secure a trade deal.
The meeting, to be attended by trade ministers of 149 member countries including India, seeks to give a push to the multilateral talks to reach agreement on modalities besides unveiling a development package for Least Developed Countries.
Though expectations from the ministerial meeting reaching a deal have already been scaled down with developed and developing countries failing to agree on the quantum of farm subsidies cut and opening of markets, WTO director general Pascal Lamy on Monday asserted that the Doha Development Round must be completed on time.
In his statement to Inter-Parliamentary Union, Lamy said while members may have been talking about 'recalibrating their expectations, I hasten to stress that by recalibration members meant neither a lowering of the level of ambition for the Doha Round, nor a licence to let the final 2006 end date slip.'
"The round must be completed on time and must fulfill its promise of a cross-cutting development outcome. The call for recaliabration was necessary only in order to adjust expectations to the real state of negotiations," he said.
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