Contact Information: Contact: Joseph G. Gavin VP Trade & Customs USCIB +1 202.682.1291
USCIB Regrets Breakdown in Doha Trade Talks, Urges Parties to Keep Offers on the Table
| Source: USCIB
NEW YORK, NY--(Marketwire - July 30, 2008) - The United States Council for International
Business (USCIB), which represents America's top multinational companies,
expressed deep disappointment at the breakdown of the WTO's Doha trade
talks in Geneva. It called on governments to keep their offers on the
table as the basis for further negotiations.
"We deeply regret that ministers failed to deliver an ambitious, balanced
and comprehensive result acceptable to all parties," stated USCIB President
Peter M. Robinson. "So much has already been achieved, including important
progress this past week. We urge parties find ways to build on these
accomplishments going forward."
Mr. Robinson said leaders in emerging market countries needed to
demonstrate flexibility commensurate with their new weight in the global
economy. "In addition, established trading parties must continue to
demonstrate collective leadership and willingness to compromise," he
stated. "We support the efforts of Ambassador Schwab and her team in this
regard."
The timing of the latest setback is unfortunate because of slowing economic
growth and increasing protectionist sentiment in some major trading
nations, Mr. Robinson added. He also pointed to the importance of freer
trade and multilateral cooperation in confronting such challenges as
climate change and resource scarcity.
USCIB believes the Doha Round has tremendous potential to increase global
economic growth by improving market access for goods and services around
the world, especially for the developing world by reducing south-south
trade barriers. It is the main opportunity to reduce distorting subsidies
and trade barriers to agriculture.
USCIB has long supported multilateral liberalization of trade, investment
and financial flows. Together with its international affiliates, including
the International Chamber of Commerce, and in partnership with other
national industry groups in the ABCDoha coalition, USCIB strongly supported
the launch of the Doha Round in 2001, and it has sought a result that would
improve global market access for products and services.
USCIB promotes an open system of global commerce in which business can
flourish and contribute to economic growth, human welfare and protection of
the environment. Its membership includes more than 300 leading U.S.
companies, professional services firms and associations whose combined
annual revenues exceed $4 trillion. As American affiliate of three global
business groups -- the International Chamber of Commerce, the International
Organization of Employers, and the Business and Industry Advisory Committee
to the OECD -- USCIB provides business views to policy makers and
regulatory authorities worldwide, and works to facilitate international
trade. More information is available at www.uscib.org.