Wednesday, July 26, 2006

CHRIST CHURCH, Barbados: “The inability of the just concluded G6 meeting to arrive at consensus is a major setback, which has put World Trade Organization (WTO) negotiations in jeopardy.

"The Caribbean is disappointed that G6 talks broke down, because the G6 failed in its responsibility to be a constructive influence at this crucial juncture in global trade talks. The fate of the Round rests heavily on agreement between the G6 on agricultural issues. The large and developed countries must make concessions, not the poor and less developed. It is incumbent on the US and the EU to adjust their negotiating positions accordingly, so that meaningful improvement can be achieved in market access for developing country exports.”

These were the sentiments of Director General of the Caribbean Regional Negotiating Machinery (RNM) Ambassador Dr Richard Bernal, following an announcement on Monday that Doha Development Agenda negotiations are to be suspended, as key players have been unable to bridge their differences.

Bernal added, “This is not the time for recriminations or political posturing. It is time to put aside rhetoric and begin a serious rethinking of positions, with a disposition to flexibility and a commitment to the multilateral trading system.”

The RNM head reiterated, “The Caribbean remains fully committed to achieving meaningful results from the Doha Development Agenda - results that promote the development of the small, vulnerable developing economies of the Region and permit adequate adjustment periods. In the absence of such outcomes, no deal is better than a bad deal.”

WTO talks are at a standstill because the so-called G6 - Australia, Brazil, India, Japan, the European Union and the United States – has failed to forge agreement on cuts to farm and industrial tariffs and reduction in trade distorting agricultural subsidies.

At an informal meeting of the WTO Trade Negotiations Committee yesterday, which WTO Director General Pascal Lamy addressed, no indication was given of how long global trade talks would be suspended. However, the suspension applies to all negotiating groups.

Bernal noted that the Region was concerned with the recent developments that have triggered paralysis in the WTO process, because it is the small, vulnerable economies of the Caribbean that have the most to lose once multilateral approaches breakdown. He underscored that “it is unacceptable that WTO negotiations are deadlocked because of inflexibility among the countries most able to make concessions.”

“The Caribbean urges the G6 to reflect on the serious and adverse implications for the multilateral trading system and the WTO of their failure to live up to the responsibility which comes from their economic size and influence in global trade. These trading powers must avoid the temptation to harden their negotiating positions at this stage, as agreement among them will help to galvanize the rest of the WTO membership, thereby providing renewed momentum in these crucially important negotiations. However, the Caribbean will not agree to a deal unless development is meaningfully infused in all aspects of an Agreement,” Bernal said.

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