BusinessWorld | January 5, 2004,
Philippine trade negotiators are skeptical that the 146-member World Trade Organization (WTO) would be able to wrap up the current round of trade talks before the end of 2004.
Thomas G. Aquino, Trade Undersecretary for International Trade said in a yearend report it is unlikely that member countries would be able to settle their differences and start another round of trade negotiations by January 2005.
"The deadline is no longer realistic," Mr. Aquino said.
The Geneva-based organization, however, is still sticking to the end-2004 deadline.
Since the collapse of free-trade talks in Cancun, Mexico, last September, the WTO is trying to accelerate the negotiation process among its member countries in an effort to meet the deadline it has set for drawing up a new round of agreement by January 2005.
Mr. Aquino, however, said the Philippines and fellow developing countries are amenable to resuming trade negotiations. He stressed, though that the Philippines stands by its position on agriculture liberalization.
The Philippines is pushing for the elimination of farm subsidies given by richer countries like the US and European Union member nations to their respective agricultural industries.
During the Cancun talks, Manila joined other developing countries and formed the Group of 21 (G-21). The group has been demanding for the total elimination of these agriculture subsidies, estimated at $1 billion a day.
Talks in Cancun bogged down after rich countries refused to trim export and domestic subsidies to its farmers.BusinessWorld:
