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World leaders agree to conclude Doha Round trade talks in 2010

(Xinhua)
Updated: 2009-07-10 01:40

L'AQUILA, Italy: Leaders of the Group of Eight (G8) industrialized countries and five major developing countries including India, China, Brazil, Mexico and South Africa plus Egypt agreed here on Thursday to conclude the Doha Round trade talks in 2010.

Leaders of G8 and developing nations pose together for a family photo during the G8 summit in L'Aquila, Italy July 9, 2009. Leaders of the world's richest nations and major developing powers meet on Thursday to seek common ground on global warming and international trade, with the poorer countries seeking concessions. [Agencies]

"We, together with the leaders of Australia, Indonesia and Republic of Korea and in the presence of the director general of the World Trade Organization, are committed to seek an ambitious and balanced conclusion to the Doha Development Round in 2010, consistent with its mandate, building on the progress already made, including with regard to modalities," said a joint declaration after their meeting.

The leaders of the two groups pledged to achieve ambitious, balanced results and instruct their trade ministers to meet before the next Group of 20 industrial and developing nations in Pittsburgh in September.

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"In order to fill in the remaining gaps in the negotiations as soon as possible, we instruct our ministers in charge of trade to explore immediately all possible avenues for direct engagement within the WTO and to meet prior to the Pittsburgh Summit," it said.

They said enhancing the transparency and understanding of the negotiating results to date as a necessary means to facilitate the conclusion of an agreement.

The leaders of the two groups reaffirmed their commitment to " maintain and promote open markets and reject all protectionist measures in trade and investment."

"We stress the importance of adhering to the standstill commitment renewed in London to refrain from measures that would introduce barriers to trade and investment and to rectify promptly any such measures," they said, reaffirming their request "that the WTO, together with other international bodies, within their respective mandates, monitor the situation and report publicly on the adherence to these commitments on a quarterly basis."  

The Doha Development Round talks, which was launched in 2001 with the aim at helping poor countries through trade,  should wrapped up years ago, but were delayed for several times because of rifts between developed and developing countries, mainly India and the United States over tariffs and agriculture subsidies.