SPRING 2014 DIALUP



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WTO Director-General Azevedo gestures during a news conference on world trade in 2013 and prospect for 2014 in GenevaBy Matt Siegel and Tom Miles SYDNEY/GENEVA (Reuters) - Several member states of the World Trade Organisation voiced frustration after India's demands for concessions on agricultural stockpiling led to the collapse of the first major global trade reform pact in two decades. WTO ministers had already agreed the global reform of customs procedures known as "trade facilitation" in Bali, Indonesia, last December, but were unable to overcome last minute Indian objections and get it into the WTO rule book by the July 31 deadline. "We have not been able to find a solution that would allow us to bridge that gap," WTO Director-General Roberto Azevedo told trade diplomats in Geneva, just two hours before the final deadline for a deal lapsed at midnight (2200 GMT Thursday). Most diplomats had expected the pact to be rubber-stamped this week, marking a unique success in the WTO's 19-year history which according to some estimates would add $1 trillion and 21 million jobs to the world economy.


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Fear comes from uncertainty. When we are absolutely certain, whether of our worth or worthlessness, we are almost impervious to fear. Thus a feeling of utter unworthiness can be a source of courage.

Eric Hoffer (1902-1983) American Author and Philosopher