Minister Väyrynen believes in ambitious and balanced WTO solution

Press release 265/2008
27 July, 2008

In his speech given in Kukkolankoski on Sunday 27 of July, Minister for Foreign Trade and Development Paavo Väyrynen commented on the World Trade Organisation’s ministerial meeting taking place in Geneva, aiming at a breakthrough in the Doha Round of trade negotiations.

There has been positive progress at the WTO meeting, launched a week ago on Monday and focusing on the liberalisation of the world trade.

The consensus of the seven key negotiation parties - the EU, Australia, Brazil, China, Japan, India and the US – on continuation of the negotiations on the market access of agricultural and industrial products, will be a basis for the negotiations of the coming week. The EU Member States have already given their support for the continuation of the negotiations as suggested by the parties of the meeting.

If key guidelines for a comprehensive solution can be agreed on next week, the negotiations to implement such a solution can kick off. The negotiations will include finishing the details for the agreement on the market of agricultural and industrial products. In addition, the liberalisation of the service market must be agreed on. The best case scenario would be that the negotiations of the Doha Round could be finished by the end of the year.

An ambitious and balanced WTO solution is expected. It should reject the growing protectionism and liberalise the world trade significantly. This plays a great role now that the world economy is experiencing insecure times. Finishing the Doha Round will especially benefit the developing countries that have been given special treatment in the negotiations. Reaching a WTO agreement is also important considering other global negotiation processes, such as that of a global climate change agreement.

The EU is represented by the European Commission is representing at the WTO negotiations, and also, there are representatives from the Member States constantly present, governing the negotiations and making related decisions when necessary. Minister for Foreign Trade and Development Paavo Väyrynen, representing Finland at the negotiations, is to travel to Geneva again on Monday morning.