Pressure on to complete Doha round next year

By FRAN O'SULLIVAN

Asia Pacific business interests will pressure political leaders to conclude the World Trade Organisation's Doha round next year.

The WTO's original deadline to reach agreement by January 2005 went bust after the failure of trade ministers to reach agreements on key issues such as agricultural liberalisation at their Cancun meeting last September.

But while a new negotiating mandate was reached in Geneva recently, members of Apec's business advisory council will not brook any slippage beyond 2005. Council chairman Hernan Somerville said a successful round remained businesses' "first, second and third" priority.

New Zealand's Sir Dryden Spring, who co-chaired a council meeting with Somerville in Auckland this week, said the group wanted substantial improvement in access for agricultural products and a significant reduction in tariffs.

The council also called for "bold new initiatives" to maintain the integrity of trade and investment in the region.

It wants the political leaders to launch an initiative for a transpacific business agenda by the end of the year to deal with trade facilitation issues.

A proposal for a Free Trade Agreement of the Asia Pacific was also discussed.


Monday: Trade, deals, films - what happens when 45 business powerbrokers hit town.