G20 Leaders Inject Political Will into Doha Talks
I welcome the statement issued by the Washington G20 Summit overnight, conveying the commitment of Leaders of the G20 nations - including Prime Minister Kevin Rudd - to advancing the Doha Round of world trade talks.
In their Summit communique, G20 Leaders said they shall strive to reach agreement on modalities - or, in other words, a framework package - for the Doha Round this year.
This is an extremely significant statement of commitment.
G20 Leaders have recognised the fundamental importance of the world trade talks as an essential part of the global community's response to the financial crisis. In doing so, they have given prospects for the Round a significant boost.
A successful conclusion to the Doha negotiations would provide a huge injection of confidence at a time of considerable uncertainty in the global economy - and will assist in the global economic recovery. In normal circumstances international trade plays a critical role as a multiplier of economic activity - now it has an even more important role to play.
I have consistently argued that a key ingredient in concluding the Round is the exercise of political will and I have been actively working to build the momentum. This statement by G20 Leaders is a huge fillip to efforts to conclude.
I welcome, in particular, the statement from G20 Leaders that they stand ready to assist directly in efforts to conclude the framework package.
The task now is to implement the instructions from G20 Leaders. The APEC Ministerial and Leaders meetings in Lima, Peru this week represent the first significant gatherings following the G20 Summit - and therefore a valuable opportunity to discuss next steps.
I will be working closely with colleagues at the APEC meetings as well as with the WTO Director General and with colleagues from other key WTO Members in the next few days to respond to the Leaders' direction.
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