The European Union's chief trade negotiator said today he expected a successful conclusion to the Doha round of international trade talks by the end of next year.
Speaking to the European Parliament's trade committee, Karel De Gucht called for the summit of G20 leading economies in South Korea this week to signal the restart of the trade talks, which began in November 2001 and have continued intermittently.
Mr De Gucht said he expected a meeting of WTO trade ministers to be convened during 2011, leading to the signing of a global deal. Ministerial meetings are not usually called unless there is an expectation of an accord being reached.
Mr De Gucht, who is not attending the G20 talks, said he expected the leading emerging trade powers - Brazil, China, India, Mexico and South Africa - to hold talks late this year or nearly next, adding momentum to a possible deal.
"(I would envisage) a meeting of the G5 at ministerial level after Seoul. I think there is some momentum to do that," he said, referring to the five largest emerging economies.
Reuters