At the conclusion of five days of talks, the WTO Ministerial Conference in Doha decided to launch a new round of multilateral trade negotiations according to Trade Minister Mark Vaile.

"The launch of a new round has been the Coalition Government's key trade priority.  This result in Doha is particularly satisfying following the disappointment in Seattle two years ago.  The new negotiations will lead to new export opportunities and increased economic growth and job opportunities," Mr Vaile said. 

"Australian farmers, workers, businesses and consumers stand to gain significantly from the commencement of negotiations early next year.  Estimates put the likely economic benefits to Australia of a 50 percent cut in global protection in excess of $7 billion annually.

"The Cairns Group of agricultural exporters, which Australia chairs, played a critical role at Doha in building support for an ambitious agricultural mandate.   

"The Declaration's strong language to phase out export subsidies, achieve major reductions in domestic agricultural support levels and secure significant improvement in market access is a tremendous outcome for Australia.  It will go a long way to ensuring agriculture and processed foods receive the long overdue attention they deserve in international trade negotiations.  

"The text on environment underscores the importance of sustainable development to the international trading system.  I particularly welcome the outcome on negotiations to reduce fisheries subsidies.  I am confident that the proposed negotiations on the relationship between the WTO rules and specific trade obligations set out in multilateral environment agreements can be conducted in a way that does not undermine WTO rules and disciplines."

Mr Vaile welcomed the commitment to negotiations in the services and manufactures sector.  Together with agriculture, they were key objectives for Australia reflecting their importance to the Australian economy and the need to reduce international trade barriers to open markets and to provide new export opportunities.

"Ministers also reaffirmed the right of members under the General Agreement on Trade in Services (GATS), which Australia signed in 1995, to regulate the supply of services as they see fit," Mr Vaile said.

"Australia also helped forge consensus on the difficult issue of access to medicines, which recognises the importance of addressing public health concerns within the framework of WTO rules.  Developing countries will benefit from the new negotiations on agriculture, which was another key priority for them." 

Mr Vaile also played tribute to the key role played by outgoing Minister for Finance, John Fahey, who led the Australian delegation in the initial stages of the conference.