Contacts: In Washington: Geetanjali Chopra 202 473 0243 gchopra@worldbank.org Amy Stilwell 202 458 4906 astilwell@worldbank.org In London: Derek Warren 44 207 968 4186 dwarren@worldbank.org In Paris: Steven Jouy 33 01 4069 3022 sjouy@worldbank.org WASHINGTON, July 9, 2006 – World Bank President Paul Wolfowitz sent a letter to the G8 +5 leaders (Brazil, China, India, Mexico, South Africa) urging them to reach an agreement in the Doha round trade talks when they meet in St. Petersburg, Monday, July 17. The letter was addressed to each of the leaders and sent to them on Friday evening. Text of the letter follows: "The upcoming gathering of the G-8 members and the planned outreach session with leaders from China, Brazil, India, South Africa , Mexico, the African Union and international organizations offers a unique opportunity we must take advantage of if we are to make urgently needed progress in the Doha trade talks. With time running out, our collective efforts can make the difference. We can work to lift millions from poverty, boost developing country income, improve global market access and reduce taxpayer and consumer costs for all—or allow the whole effort to collapse, with harm to everyone. "Good intentions are in generous supply. The U.S. Trade Representative has committed "to do our part" pointing out just last week, "there are plenty of examples of trade rounds that have faltered and ultimately been resurrected." The EU Trade Commissioner said, "There is a three way bargain here. The G20 wants steeper cuts in U.S. farm subsidies before accepting required cuts in industrial goods. Washington can unlock this by stepping forward with a better offer. If this happens the EU, will at the same time meet them both with a strengthened offer." "While successfully concluding the Doha round will depend on detailed formulas and a painstaking technical process, there is the opportunity for the leaders gathered in St. Petersburg to provide the momentum essential to success. Next week, a collective pledge by the U.S. to reduce agriculture subsidies, by the EU to improve market access and the + 5 Members to limit tariffs on manufactures—a pledge that meets Chief Negotiator Pascal Lamy’s "20-20-20" targets—could help seal a deal. "The world’s poorest people, the 1.2 billion living on less than $1 a day, are counting on your good intentions being transformed into decisive action, just as last year when your resolute political leadership launched the historic Multilateral Debt Relief Initiative. "A pro-development result will yield gains for rich and poor alike. It would be an important step on the path to full liberalization which could eventually generate $300 billion a year in additional production for the world’s economy. Developing countries could gain by as much as $86 billion alone, dwarfing annual bilateral assistance efforts. "I urge all participants in the July 17 meeting to come prepared to compromise and commit to success."
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