Trade Ministers' issue statement to break WTO deadlock
02 Jun '06
4 min read
The 12th Meeting of APEC Ministers Responsible for Trade (MRT) has concluded with ministers issuing a statement calling for urgent action on specific issues that are critical for breaking the impasse in the current round of World Trade Organization (WTO) negotiations.
The “MRT Stand-Alone Statement on the Doha Development Agenda” is specific in affirming APEC Trade Ministers' support for utilizing the “Swiss formula” in calculating tariff reductions for improving market access for non-agricultural goods.
Ministers stated their support for the use of two ambitious coefficients applying to developed and developing Members which they anticipate will deliver real and meaningful improvements to market access and ensure the benefits of the DDA are shared by all economies.
On enhancing market access for agricultural goods, Ministers have agreed to make effective cuts to trade-distorting domestic support and to the elimination of all forms of export subsidies by 2013.
Chair of the Ministerial Meeting, Viet Nam's Trade Minister Truong Dinh Tuyen, welcomed the outcomes of the Ministerial Meeting that he said will provide significant political momentum to help the WTO conclude the current round of trade negotiations.
“APEC Ministers representing around half of global trade flows have made a very personal commitment to break the impasse at the WTO and conclude DDA negotiations,” MinisterTruong said at the end of the ministerial meeting.
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