[asia-apec 1787] poorest nations ironing out trade stance

[APEC Monitoring Group]

Reuters Story from NZ Herald 

Poorest nations ironing out trade stance 

24.07.2001 

ZANZIBAR - Top trade officials from the world's poorest nations are meeting in Zanzibar to plan a common stand for the next World Trade Organisation meeting later this year. 

When Trade Ministers join the conference today on the Indian Ocean island off Africa's east coast, they are expected to press for cancellation of Third World debt, a question left open at the rival rich-world Group of Eight summit at the weekend. 

The 49 United Nations-classified Least Developed Countries (LDCs) resent what they see as their growing marginalisation from global trade and want easier access to rich world markets. 

The European Union, United States and other developed nations are pushing hard for a new round of trade talks, where the rules of trade are hammered out, to be launched this year. 

Many poor countries remain sceptical about the benefits they will derive from more trade liberalisation. 

They will consider a proposal that they should not enter new rounds of trade negotiations until the commitments made by the developed world in the past are honoured. 

Tanzania's Trade Minister, Idi Simba, said that Europe and the US subsidised their agricultural sectors, while lecturing poor countries not to do the same. 

"We know we are not getting a fair deal," he said, pointing out that Europe had previously promised to reduce its agricultural subsidies by 2000. 

- REUTERS