World Markets Analysis | By James Auger | June 23, 2003
The outlook for the much-vaunted Doha Round of multilateral trade talks remains gloomy as key differences remain. The US, European Union (EU) and over 20 other countries met over the weekend in Sharm el-Sheikh, Egypt. The biggest obstacle is agricultural liberalisation, and the reluctance of the EU to reform its Common Agricultural Policy (CAP). France has been particularly vociferous in defending the policy, and President Jacques Chirac last week threatened to wield his veto if reform pledges were made. It looks increasingly unlikely that there will be a major breakthrough before the key September ministerial meeting in Cancun, Mexico. On other Doha matters greater progress was nonetheless reported. This included developing countries' demands for special treatment, and proposals for WTO rules on investment, competition, trade facilitation and government procurement transparency.World Markets Analysis:
