WTO fails to agree on Doha round of talks

The 8th Ministerial conference of the World Trade Organization (WTO) wrapped up in deadlock on Saturday in Geneva, Switzerland, as member states were at odds on measures to restore the Doha Round of negotiations for a global free trade pact. During 3 days of discussions, differences between industrialized and emerging nations remained. According to a joint statement read by conference Chairman and Nigerian Trade Minister Olusegun Aganga at the end of closing ceremony, WTO ministers voiced their regret at the impasse of the Doha rounds of talks, which were launched a decade ago in the Qatari capital. Member states also failed to reach consensus on new topics such as climate change, energy, food security, exchange rates and competitiveness. Speaking at the closing ceremony, WTO General Director Pascal Lamy called on ministers to seek a new working method in the coming year to help the world economy avoid a great crisis similar to that of 1930s.

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