In Washington : Carl P. Hanlon
+ 1 202 473-8087
chanlon@worldbank.org
Amy L. Stilwell
+ 1 202 458-4906
astilwell@worldbank.org
In Paris: Rachel Winter Jones
+ 33 6 23 14 17 45
rjones1@worldbank.org
WASHINGTON , July 20, 2008 - On the eve of the World Trade Organization (WTO) Ministerial Meeting, which will be held in Geneva, Switzerland next week, World Bank Group President Robert B. Zoellick urged Trade Ministers to reach an accord on the Doha Development Agenda:
“It has never been more important for WTO members to move forward on the Doha Development Agenda. It’s now or never. A breakthrough in the Doha Round would infuse confidence in a world economy buffeted by high food and energy prices, as well as financial strains.
“Progress on agriculture is paramount. An open and fair system would create opportunities for developing country farmers to expand production, for consumers in all countries to lower prices, and for governments to save on the costs of subsidies, improving budgets
“Both developing and developed economies stand to gain from lower barriers to goods and agriculture. There are also great opportunities to expand trade among developing economies--the so-called South-South trade, which is expanding rapidly. A solid Doha deal should also boost markets for services—which are an increasing share of global GDP—and for enablers of national development and infrastructure, as well as complement the measures to facilitate trade. It would also clarify “rules” that impede trade.
“Breakthrough progress on the Doha Round is essential if we are to resist the current cries for protectionism. A return to economic isolationism would reap the losses, not the gains, of globalization.”
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