Ministers Agree - Round Must Produce Commercial Opportunities

Deputy Prime Minister and Minister for Trade, Mark Vaile, said all Ministers involved in the G6 meeting in London agreed that the Doha Round must produce commercial opportunities for all members of the WTO, but emphasised the limited time available to conclude the negotiations.

Mr Vaile said, "We had intensive discussions around the key issues. Encouragingly, all participants reaffirmed that the key to the success to this Round is the creation of new commercial opportunities for our farmers and businesses.

"Although we made no substantial breakthroughs, the connections between the issues and areas for compromise were clearly identified."

Mr Vaile was speaking at the conclusion of the meeting of the G6, an informal group comprising Ministers from the United States, the European Union, Brazil, India, Japan and Australia.

"While negotiations in Geneva had intensified over recent weeks an enormous amount of work remained to be done if the April deadlines were to be met.

"I am pleased that the G6 has identified the need for urgency given that the deadline is just around the corner. This meeting gave us the opportunity to progress towards the key decisions on agriculture and industrial tariffs required by the end of April, and this will continue over the coming weeks," Mr Vaile said.

Mr Vaile emphasised that the interests of all WTO Members, and in particular those within the Cairns Group, would have to be met if there was to be a successful conclusion to the Round.

"A successful conclusion of this Round would offer substantial outcomes in market access improvements, in reducing subsidies and eliminating export subsidies, and in improved trade rules.

"Failure would be to the cost of the multilateral trading system and would mean we would lose a rare opportunity to lock-in and deepen reform in the major agricultural subsidizing countries," Mr Vaile said.

Contacts: Ministerial - 02 6277 7420, Departmental - 02 6261 1555