WTO talks must resume says Brazil’s Amorim

Global trade talks that stalled last month must resume ASAP said Foreign Minister Celso Amorim earlier today. “I'm still hopeful that we can still make an effort, but it has to be very fast,” observed Amorim during a visit to Canberra where he met with his Australian counterpart.

The Doha Round of trade talks broke down in July when countries could not reach a compromise over agricultural tariffs. One of the sticking points during negotiations revolved around biofuels with Brazil pressing the U.S. and E.U. to permit increased ethanol imports.

Earlier this week, Brazil appealed to the World Trade Organization (WTO) to impose sanctions against the U.S. over cotton subsidies. The request was made after a WTO panel upheld a 2007 ruling that concluded that U.S. subsidies unfairly undercut foreign competitors.

Image- abc.net.au

Sources- Xinhua, IHT, Guardian UK, Forbes, Reuters India