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G-77 calls for ending Doha Round trade talks

2010-03-24 09:20 BJT

TED NATIONS, March 23 (Xinhua) -- The Group of 77 developing countries and China on Tuesday called for the conclusion of the Doha Round trade talks to prevent future global financial crisis and protect development gains.

Abdullah Mohamed Alsaidi, chairman of the Group of 77, made the remarks as he was speaking at the Fourth High-Level Dialogue of the UN General Assembly on Financing for Development.

"The Group considers trade to be a vital tool to provide long- term sustainable growth," said Alsaidi, who is also the permanent representative of Yemen to the United Nations. "In this regard, we call for the conclusion of the Doha Round to prevent future crisis and secure development gains made before the crisis from erosion."

Launched in 2001, the Doha Round of world trade talks has been deadlocked in the past eight years due to differences between developed and developing countries over access to agricultural and non-agricultural markets. A series of deadlines had been missed, which cast doubt on the latest one.

The new deadline of 2010 is a political commitment made by world leaders at the summit of the Group of 20 world's largest economies last year. It is supported by all 153 members of the World Trade Organization. But it can only be realized through substantive negotiations.

"Subsidies, particularly in agriculture sector, have a direct impact in our countries, especially affecting the most vulnerable farmers," Alsaidi said. "We also consider it essential that the 0. 7-percent ODA (official development assistance) be reached."

"Moreover, we attach importance to the issue of innovative sources of financing," he added.

"The world economy may no longer be shrinking quite as fast as previously predicted, but we should not ignore the fact that the negative impact of the crisis is far from over," he said.

"It may well be argued that its full effect remains to be seen, especially in developing countries," he said. "Even as analysis assures us that the world economy might be showing signs of recovery, unemployment and underemployment are on the rise worldwide, affecting the livelihood of millions of people in the developing world."

"If the international community fails to contain the effect of the crisis and address its roots once and for all, the world will face unimaginable and immeasurable consequences," he added.

Editor: Zhang Pengfei | Source: Xinhua