May 23, 2002	Thursday	Rabi-ul-Awwal 10,1423

KARACHI, May 22: The world business leaders have expressed the fear that the spirit of co-operation at Doha is under threat from a new outbreak of protectionism and trade disputes.

As concerns mount at current conflicts over the US decisions to increase agricultural subsidies and curb steel imports, the business leaders see the prospect of retaliation by the European Union and other trading partners.

Ahead of the G8 summit in Kananaskis, Canada, next month, the International Chamber of Commerce (ICC) urged the G8 government leaders to refuse protectionist demand and resist “pressures and temptations of short- term political expediency.”

The appeal to ease current trade tension was made in an ICC statement delivered to the Canadian Prime Minister Jean Chrestien as summit host, says an ICC press release issued here on Tuesday.

ICC President Richard D. McCormick, leading his chamber’s delegation, has handed over the statement to the Canadian Prime Minister at the latter’s office.

While not blaming or naming any government, the ICC said recent trade disputes had not improved prospects for the world trade round launched at the meeting of WTO in Doha last November.

The Paris-based ICC claims that its membership is made up of thousands of companies and business associations in 140 countries.

Calling upon G8 participants at Kananaskis to give strong political backing to new trade negotiations and the broad trade liberalization agenda outlined at Doha, the ICC stressed that the negotiations must address the interests and concerns of the developing countries.

It elaborates: “The primary goal must be to improve substantially their access to developed country markets and specially for the products in which they possesses a competitive advantage. This will require difficult reforms and adjustments in certain sectors of the economies of the developing countries. But it will have a vital bearing on the ability of the poor countries to lift themselves out of poverty.”

The ICC statement reminds the developed world that ”we cannot curb the chances of the poor people to profit from participation in a thriving global economy.”