Issued on behalf
of the High-Level Trade Experts Group.
EMBARGOED: NOT FOR BROADCAST OR PUBLICATION UNTIL
00:01 Wednesday 25 May 2011
A Trade Experts Group set up by the UK, Germany, Turkey and
Indonesia has today published its final report - “World Trade and
the Doha Round”.
The report argues that the Doha Round will die unless global
political leaders demonstrate their commitment in the coming
months.
Peter Sutherland and Pr Jagdish Bhagwati co-chaired the Experts
Group. They were asked to consider the actions needed to combat
protectionism and to boost global trade. They believe that ten
years of negotiations for the Doha Round have produced the most
substantial package of trade liberalisation ever put within reach
– and call on national leaders to break the current stalemate and
seize this opportunity.
The report argues that the failure of the Doha Round would not
only impact on trade, but also on economic confidence, and more
widely on stability and global governance. They call specifically
on the US and China to help progress the deadlocked negotiations
and argue that the concessions that need to be made are relatively
small in size and involve limited political pain.
Peter Sutherland, co-chair of the High-Level Trade Experts Group said:
“The message of this report is that the Doha Round of talks is
facing imminent failure. Ten years of negotiations has brought a
wide ranging package of trade agreements within reach, but without
urgent action the prize a conclusion would bring will be lost for
all nations.
“The benefits to be reaped go way beyond the most ambitious
liberalisation package ever negotiated and would deliver a huge
step forward for global governance, stability and the rule of law.
As a group, today we call upon all political leaders to make their
contribution now to achieve this deal as there will be no more
second chances.”
The report states that open trade promotes the economic growth
that has helped lift hundreds of millions of people out of poverty
since the Second World War and continues to play a key role today.
The authors argue that a resolution would deliver a boost of £110
billion per year to the global economy.
The economic argument for a resolution is clear, but the report
also notes further benefits for all countries. These include:
Open trade is the most effective peace-keeping policy tool the
Community of Nations has used over the past 60 years;An agreement
on open trade would provide an insurance policy against future
protectionism;A settlement would reinforce the WTO system and by
extension the multilateral institutions also.
Welcoming the report Trade & Investment Minister Lord
Green said:
“We thank the Trade Experts Group for their excellent work. The
report makes a compelling case for concluding the Doha Round and
highlights the need for real political leadership if we are to
complete a deal this year. The UK Government recognises that 2011
is the make or break year and will continue to work with its
international partners to complete a deal.”
Notes to editors
In October 2010 the heads of government of Germany, Great
Britain, Indonesia and Turkey agreed to co-sponsor an Experts
Group to report on the priority actions that have to be taken to
combat protectionism and to boost global tradeThe High-Level Trade
Experts Group final report will be published on 25 May, 00:01 GMT
+1 (Paris time)An interim report was launched in Davos on January
28 2011.The members of the panel have been drawn from a range of
advanced and developing countries and, while all are experts on
trade and economics, each brings a different set of skills and
experienceThe two co-chairs are Pr Jagdish Bhagwati and Peter
Sutherland KCMG. The other members are Pr Richard Baldwin, Dr K.Y.
Amoako, Dr Muhammad Chatib Basri, Dr Eckart Guth, Dr Jaime Serra,
Pr Subidey Togan and Pr Jürgen Von Hagen.
Experts’ Group Terms of Reference
To assess the current environment for trade and to recommend the
priority political and regulatory steps needed to increase global
trade flows in the short and medium term, in particular:To present
an analysis of the global welfare potential at stake in the
various options for the conclusion of the Doha Round, in support
of the WTO negotiations as they approach their final stage; and,To
define a longer term approach to trade liberalisation and regional
integration in support of the multilateral trading system,
including steps to tackle regulatory, administrative and physical
barriers to trade.
For additional information or an embargoed copy of the executive
summary of the report please contact Lucy-Michael Sutton at BIS
Press Office on:
Lucymichael.sutton@bis.gsi.gov.uk
020 7215 5977
Contacts:
BIS Press Office
NDS.BIS@coi.gsi.gov.uk
Lucy-Michael Sutton
Phone: 020 7215 5977
lucymichael.sutton@bis.gsi.gov.uk