Trade Ministers Decry Protectionism

Representatives of 11 nations call for resumption of Doha talks

 

Trade ministers of eleven export-oriented World Trade Organization members called for vigilance against protectionism, and said that other WTO members should conclude the long-delayed Doha Round of multinational talks as soon as possible.

 

"We must remain vigilant against increased protectionism, which can take the form of tariffs and subsidies plus other restrictive non-tariff measures," said the statement by Chile, Colombia, Costa Rica, Hong Kong, Liechtenstein, Mexico, New Zealand, Pakistan, Peru, Switzerland and Uruguay. The ministers issued the statement Thursday on the sidelines of a ministerial meeting of the Organization for Economic Co-operation and Development.

 

"The Doha Round has a crucial role to play at this time. Concluding the negotiations will contribute to economic recovery and reinforce the benefits of the multilateral trading system," the statement said. "Reforms resulting from the round will provide valuable insurance against the threat of protectionism."

The group asked senior trade officials to re-launch negotiations on a Doha deal before the European summer break. "WTO members must exercise utmost restraint and not follow the easy path of resorting to such measures at this difficult time," it said.

 

The group said even some measures that comply with WTO regulations could have a protectionist effect, which would be especially dangerous during the current global recession.

 

(Source: Journal of Commerce)