Trade ministers have agreed to restart the Doha Development Round agricultural liberalisation talks, hoping sufficient progress can be made to persuade the US Congress to renew President Bush’s fast-track negotiating authorisation. This expires in June, and will need refreshing for the World Trade Organisations talks to have any hope of success.
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More than 30 ministers agreed at the World Economic Forum, in Davos, to change tack and focus on agreeing duty cuts to individual products, before setting an overall cut for food tariffs and subsidies. The aim would be to create enough negotiating carrots to encourage a final push for a deal later this year.
