Committed to PEOPLE'S RIGHT TO KNOW
Vol. 5 Num 812 Thu. September 07, 2006  
   
Business


Apec worried about global protectionism


Pacific Rim countries are worried about rising protectionism and want World Trade Organisation (WTO) talks on trade liberalisation to quickly resume, the Asian Development Bank said Wednesday. The Manila-based ADB "wants to see the resumption the WTO Doha round," said Masahiro Kawai, head of the bank's office of Regional Economic Integration, on the sidelines of an Asia-Pacific Economic Cooperation meeting. "It is in everybody's interest." "What (Apec countries) are concerned about is that stalling of the Doha negotiation may raise some protectionist sentiments in the rest of the world, and all of us want to see more liberal trading arrangements," he said. The WTO's so-called Doha Round talks on cutting tariffs, subsidies and other trade barriers -- launched in the Qatari capital in 2001 -- collapsed in July in Geneva amid deep rifts, especially over the farm sector.