NEW DELHI, Nov 12: Developed and developing nations need to solve contentious agricultural issues such as farm subsidies for the success of global trade talks, US trade chief Rob Portman said on Saturday.
Leading World Trade Organization (WTO) members failed at meetings this week in London and Geneva to make headway in agriculture, industrial goods and services — three key areas of the negotiations.
Countries no longer expect to agree on a plan for finishing the four-year-old Doha Round of world trade talks when they hold a WTO ministerial meeting next month in Hong Kong.
“Unless we can solve this problem on agriculture, it is difficult to move on and have a successful conclusion of other very important aspects of this round, including reduction in industrial tariffs,” Portman told Indian businessmen.—Reuters
