Breakthrough hope at WTO talks

WORLD Trade Organisation talks aimed at launching a new global round of tariff cuts and trade liberalisation appeared to be on the brink of a major breakthrough today.

Heads of the 142 delegations at the meeting in Qatar narrowed their differences after all night negotiations produced a French concession on the wording of the text covering agriculture.

'I am authorised as the European Union negotiator to say yes to the text which has been tabled,' EU Trade Commissioner Pascal Lamy said.

WTO director general Mike Moore said the talks had established a firm foundation for a new global round. They had been on a knife edge for two days, largely because of French opposition to proposals to phase out agricultural export subsidies that damage the vital farm exports of a broad group developing and advanced industrial countries.

There have been fears that another breakdown in the trade talks would seriously damage business confidence at a time of global economic weakness and undermine the credibility of the WTO just as China has been accepted as a member.

The last WTO ministerial meeting in Seattle two years ago collapsed amid recriminations between rich and poor countries.