GENEVA, June 23: World Trade Organisation chief Pascal Lamy warned on Friday that the WTO's four-year round of free trade negotiations risked collapse without a breakthrough soon in key issues.

In an interview with the BBC's Hard talk before a trade ministers' meeting next week, Lamy said developed states must improve their offer of cuts in agricultural subsidies and tariffs and leading developing countries must be prepared to lower further their duties on industrial goods.

“If a deal on this key triangle of issues is not there soon, there is a risk that this whole round will fail,” he said.

Ministers from some 50 countries, around one-third of the WTO membership, will attend a meeting in Geneva starting on June 29 to try to reach a draft pact on reform of farm and industrial goods trade.

Diplomats have said that without a deal, the WTO could run out of time to complete the full Doha round, which also includes issues such as services and special trade help for poor countries, by the end of the year.

The former European Union trade chief said he still believed a deal was possible, though he did not know if it would be achieved next week. “I do not think anyone knows. But I believe it is doable. I believe it necessary,” he said.—Reuters