WASHINGTON DC – The National Foreign Trade Council expressed its disappointment today at the lack of progress on the part of WTO negotiators during this week’s meetings of the Trade Negotiations Committee and General Council in Geneva.
Of particular concern was the inability of WTO negotiators to produce the anticipated “first approximations” of the modalities needed for the Ministerial Conference in Hong Kong, particularly in the areas of agriculture and market access for industrial goods.
“While we commend the high level of engagement and effort of the last few months, clearly, stronger political leadership and direction is essential for success in Hong Kong. The time for exhortation is over; the time for action is now,” said Mary Irace, Vice President, NFTC.
Agreement on modalities this year is essential. Since the launch of the Doha Round in 2001, the NFTC has urged an ambitious outcome and will continue to work vigorously towards that goal. NFTC remains convinced that a major result is not only what the multilateral trading system needs, but it is the only way to assure a final agreement and the future credibility of the WTO.
The National Foreign Trade Council (
www.nftc.org) is a leading business organization advocating an open, rules-based global trading system. Founded in 1914 by a broad-based group of American companies, the NFTC now serves hundreds of member companies through its offices in Washington and New York.
