Mr Pascal Lamy, the EU's trade commissioner, yesterday announced bold plans to launch a new round of world trade talks this year.

Mr Lamy acknowledged that he was pursuing a high-risk strategy after last month's failure of the World Trade Organisation ministerial meeting in Seattle, but he told the European Parliament's environment committee the issue was too important to wait until after this year's US presidential elections.

Mr Lamy is the first leading figure since the Seattle talks to make such a call, though other trading partners, including the US, say they are open to the idea of beginning a round soon. He held three hours of talks with Mr Mike Moore, WTO director general, in Brussels last week.