Business Services Industry
Commodity Prices Worry Rising WTO Chief from Thailand.
Knight Ridder/Tribune Business News, May, 2002
By Parista Yuthamanop, Bangkok Post, Thailand Knight Ridder/Tribune Business News
May 3--Developing countries need to be more active in multilateral trade negotiations in order to solve the problem of falling commodity prices, according to Supachai Panitchpakdi, the next secretary-general of the World Trade Organisation (WTO).
Several developing countries were earning half their previous export income because of declines in agricultural product prices, Dr Supachai said yesterday.
A major obstacle for developing countries, he said, was that their agricultural products faced tariffs as much as four times higher than those imposed on industrial goods.
Greater liberalisation of farm product trade would benefit developing nations...
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