News & Insights

Views Breakthrough as Necessary for TPA Extension

Washington, DC – Late last week, a delegation of NFTC member companies completed meetings in Geneva with a range of developed and developing country ambassadors and senior WTO officials.

“A core part of our message was to express continued U.S. business interest in a substantial outcome that will provide effective new market access, especially in key emerging markets,” stated Mary Irace, NFTC Vice President.

The delegation was impressed by the amount of quiet activity going on as officials search for ways to re-engage the negotiations in a meaningful way.  “We detected a genuine desire to restart the negotiations and a recognition that all key countries must do more,” added Irace.

“Many stressed that the United States will need to improve its offer on domestic support in agriculture.  There was also broad recognition that concerted action by WTO Members is essential to break the log jam, and that the United States cannot move in isolation.  On agriculture, both the EU and key developing countries must substantially improve their market access offers,” stated Irace.

The NFTC acknowledged that the Round cannot be completed within the timeframe of the current Trade Promotion Authority (TPA).  The delegation made clear that it would work hard in support of legislation to extend TPA to conclude the Doha Round successfully.  “The NFTC emphasized that TPA extension will require strong support from U.S. business, based on a clear outline of the potential benefits of the Round to U.S. goods, services and agricultural producers,” said Irace. 

Irace underscored, “It is imperative that WTO Members get the trade talks back on track.  The Doha Round has the potential to energize global growth, raise prosperity, and better integrate developing countries into the trading system.  It is too important to fail.”

###

Advancing Global Commerce for Over 90 Years

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.