Breakthrough hopes breathe life into WTO talks

0 Comments | AFP, July, 2008

GENEVA (AFP) — World trade powers strode forward towards a new global pact on Friday amid real hopes of a breakthrough after seven years of deadlock, but several emerging nations threatened to torpedo a deal.

Key negotiators said most of the 35 key trading nations meeting here have bridged their differences, sparking a mood of optimism unseen for years in World Trade Organization gatherings.

"I think the situation looks strong. I think we can be very hopeful now," said European Trade Commissioner Peter Mandelson as he left talks late on Friday.

"What is emerging is a deal that is not perfect, not beautiful, but is good for the global economy and good for development."

Ministers from 35 leading economies have been meeting here all week to discuss...