Breakdown of WTO meeting leaves poor still waiting
15 September 2003
Commenting on the failure to reach an agreement at the WTO meeting of trade ministers in Cancun, Mexico yesterday, Commonwealth Secretary-General Don McKinnon said: "Everyone stands to lose from this new breakdown in trade talks, particularly poor countries. A deal in Cancun could have added US$520 billion to global incomes by 2015, lifting 144 million people out of poverty. As it stands, the poor are still waiting.
"Let us hope that the shock of failure will spur all involved to cooperate and show flexibility in negotiating an agreement at the next ministerial meeting, in December in Geneva.
"The WTO remains the only multilateral mechanism for global trade negotiations. To lose it would have catastrophic effects on trade relations and would weaken even further the position of poor and vulnerable countries.
"In more than one way, the Cancun meeting will change the way global trade negotiations will be led in the future. For the first time, a coalition of developing countries, led by India, China and Brazil agreed on a common position, shifting the balance of power in global trade talks."
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