Wednesday, November 23, 2005

A push in the right direction

If the upcoming Commonwealth meeting can live up to its advance billing, then maybe the upcoming WTO talks aren't doomed after all:
Commonwealth leaders will present a united front and demand progress on global trade negotiations when they gather in Malta this week, the 53-country group's Secretary-General said Wednesday...

“Commonwealth leaders are all in agreement that this must be a successful round,” Mr. McKinnon told the Associated Press in a telephone interview from Malta. “There must be benefits for developing countries. ... I believe we can present a united front on what are the great expectations from this round.”...

Commonwealth countries' priorities in the trade talks vary widely. Australia is demanding further cuts to European farming subsidies, while Britain, as current president of EU, wants India to open up market access for industrial goods and services.

Meanwhile countries such as Barbados, Guyana, Jamaica and Trinidad – the Caribbean's leading sugar producers who enjoy special access to the European Union – fear that reform of the EU's sugar-aid scheme will damage their economies.
If the Commonwealth can put forward a united front based on a genuine free flow of trade (rather than the demand of free trade except where it would affect politically powerful industries), that could work wonders in highlighting the common interests of developed and developing states. But it won't be easy, as reaching such an agreement now will require the Commonwealth states to stand up to those internal industries now in the knowledge that there's another huge hurdle in the way of the ultimate goal.

Hopefully McKinnon's optimistic take on the Commonwealth meeting will help to generate some positive momentum, both within the Commonwealth and in the wider WTO. If so, then one of the most important ingredients in both third-world development and wider economic stability may yet become the norm at the Hong Kong meeting.

No comments:

Post a Comment