The chairman of the World Trade Organisation’s (WTO) Doha Development Round has indicated that progress is being made towards a final deal that could prove acceptable to all WTO factions.
Go deeper with GlobalData
Speaking yesterday (7 May) in Geneva, Crawford Falconer revealed the key G4 Group, which consists of the US, Brazil, the EU and India and loosely represents all WTO factions, was now “seriously engaged” and talking “about substance” regarding a final deal.
Falconer said he had met with G4 representatives in London recently and found their discussions were more serious than he “had seen for quite some time”. Although the quartet is yet to achieve a breakthrough, the fact they were actually trying practically to reach one is crucial, given the G4’s lynchpin role.
In past WTO rounds, bilateral agreements between the EU and the US have tended to underpin final agreements, but today, with developing countries, such as India, and emerging market food exporters, such as Brazil, having more economic clout, poorer countries will have to help frame a deal.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
