European Union farmers could suffer losses ranking from one to three billion Euros if a trade agreement is finally agreed with Mercosur according to a European Commission evaluation paper on the impact.
World Trade Organization Director General Pascal Lamy warned world leaders that adopting protectionist measures can have “devastating effects” on the global economy. Addressing the G 20 group Lamy called on the leaders to resist “the temptations of protectionism”.
The World Trade Organization's 153 member nations will openly discuss for the first time an alternative to the failing Doha round of global trade talks, according to a report from The Wall Street Journal.
The head of the World Trade Organization warned the decade-old Doha Round talks on a new global commerce deal involving billions of dollars are at serious risk because of differences over cutting tariffs on industrial goods.
Pascal Lamy head of the World Trade Organization is holding talks to try and salvage the ailing Doha Round of trade liberalization talks that have been stalled for almost a decade.
Mercosur and the European Union began Monday in Brussels a new week-long round of negotiations for an association and trade agreement that so far does not include market access for sensitive items such as meats, which triggered strong protests and warnings from European farmers and the European Parliament.