McClay welcomes new WTO IT Agreement

The World Trade Organization (WTO) is in a critical situation and should switch from negotiations to real results and in this case it will “rise from the ashes like a phoenix”, Russia’s Economic Development Minister Alexey Ulyukayev said in his speech at the plenary session of the 10th Ministerial Conference of WTO members.

Both views are anathema to many nations, such as India and South Africa, which fear the abandonment of Doha would threaten their ability to secure concessions on issues such as rich nations’ agricultural subsidies, while the inclusion of additional matters would dilute the process.

‘Now that after intensive negotiations all misunderstandings of Iran’s nuclear activities has been removed, our next step will be to persuade economic cooperation and to become intermingled with the world economy and therefore joining WTO is Iran’s priority. “We can not continue with the rhetoric of a development agenda without even a reasonable attempt to address issues which are of primary concern to developing economies”, she said.

The U.S. however argued that imbalances in cotton are caused by factors other than subsidies alone such as country-specific industrial policies that support production for synthetic fibers, high tariffs on finished products and good harvests caused by favorable weather.

The continent’s trade ministers say success for them at the ongoing ministerial conference in Nairobi will mean achieving a trading system that levels the playing field and helps developing countries lift people out of poverty through trade, SABC reported. “There are big forces at play, with countries like the US, the E.U., Australia, New Zealand and others who are negotiating free-trade agreements, that may start functioning alongside the WTO soon”.

There has been little or no progress in the Doha round since 2008, when developed and developing countries found themselves at odds over whether poor countries should be allowed to increase tariffs to support their farmers if food imports rose sharply.

Kenya has been hit by a string of Islamist attacks by Al-Qaeda’s East Africa branch, the Somali-led Shebab, but last month hosted Pope Francis, while in July, US President Barack Obama visited.

Developed countries want elimination of export subsidy given by countries like India to boost their agriculture exports.

The ministerial conference will include more than two dozen ministers from the WTO’s 162 member nations.

“The agriculture negotiations in the Doha Round are the ones from which developing countries can derive most gains”.

“If it doesn’t, [the WTO] will increasingly struggle to make itself the central instrument for accelerating global trade, which is its aim”, Mr Steiner said.

Ceremonies for the accession of Liberia are expected to be held on December 16, with the accession of Afghanistan a day later, the WTO said. 6 billion ($25 million) into the Kenyan economy. The outcome of the conference will be dubbed the “Nairobi Declaration”.