World Trade Talks Failure Not An Option - Vaile

Deputy Prime Minister and Minister for Trade Mark Vaile left Australia for Hong Kong today to participate in the 6 th World Trade Organisation Ministerial Meeting saying that a new world trade deal will create more jobs for Australians and improve our standard of living.

Mr Vaile said the Doha round of world trade talks must be finalised in 2006 so a positive outcome in Hong Kong is essential.

"Failure is not an option. Australian farmers and exporters deserve the chance to compete on a level playing field.

"The Doha Round will determine the international trade rules for the next 25 years - improved market access, reductions in trade-distorting farm subsidies and the elimination of export subsidies are essential outcomes for Australia in agriculture," Mr Vaile said.

"We are sick of having to compete with unfair subsidies provided by some of the world’s wealthiest countries.

"Australia is also seeking greater liberalisation of trade in manufactured goods and services - those gains are being put at risk by stubbornness on agriculture," Mr Vaile said.

Agriculture remains the key stumbling block to a deal on the Doha round with rich nations such as the EU, Japan and Switzerland refusing to undertake meaningful reform of their farm sectors.

"We believe significant reform in agriculture will deliver the biggest dividend for the developing world - without new trade flows in agriculture we will lose the opportunity to lift millions of people out of poverty."

"We will keep negotiating in Hong Kong to keep the pressure on so that we can finalise the round in 2006," Mr Vaile said.

"Equally there needs to be a sign from developing countries such as Brazil and India that they are committed to liberalisation in manufactured goods and services.

"WTO members agree that the three areas which should be addressed in Hong Kong are agriculture (specifically market access), industrial products and development.

"I hope there will be strong political will to significantly advance these issues. If we can’t then the Doha round will be in serious trouble," Mr Vaile said.

Contacts: Carissa Buckland 02 6277 7420