Taiwan's top trade official in Geneva said yesterday that the strengthening of the global trade mechanism would prevent some World Trade Organization (WTO) members from adopting bilateral or regional measures that might endanger the operation of the multilateral trade system.
Yen Ching-chang (
WTO members had tried hard to create a framework by reaching an agreement by the end of last month on key issues, including agricultural subsidies and industrial tariffs, which would provide a way forward for the stalled Doha Round trade negotiations.
The Doha Round collapsed at the WTO ministerial meeting held last year in Cancun, Mexico after a dispute between developing and industrialized states over richer states' farming subsidies and tariffs imposed on agricultural imports from developing countries, as well as differences related to the so-called "Singapore Issues" -- namely, trade facilitation, investment, transparency in government procurement and competition policy.
The passage of the July Package will bring the Doha Round back on track and demonstrate the authority of the WTO and its multilateral trade mechanism.
Saying that the agreement symbolizes the superiority of the multilateral trade mechanism, Yen said the mechanism cannot be replaced by bilateral free trade agreements or regional trade agreements.
Saying that the agreement also demonstrates that the WTO will continue to be the world's most efficient platform for further trade liberalization, the representative noted that this will make a positive impact on the global economy.
Yen also welcomed the substance of the July Package, including trade facilitation and non-agricultural market-access issues, although he said some of the contents do not meet Taiwan's expectations.
Touching on some agricultural issues that were included in the July Package, Yen expressed reservations and said Taiwan is still concerned over sensitive agricultural products.
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