Monday, September 15, 2003

WTO Looks For Way Forward After Cancun Collapse


World Trade Organization leaders, crippled by two major defeats in four years, are searching for a way to win back the trust of poor nations and cobble together a global trade treaty that will shape the world's economy for years to come.

Developing countries say they won't take any more bullying from the rich, and want a deal that will help even the poorest. The demands came amid the surprise collapse of crucial trade negotiations in this Mexican resort. Just as ministers were digging in for an extra day of talks, the meeting's chairman, Mexican Foreign Secretary Luis Ernesto Derbez, suddenly called off negotiations, saying there wasn't enough agreement to move forward

Developing nations - some triumphantly - leaked the news to journalists in the hallways of Cancun's convention centre, even as U.S. trade officials gave a news conference explaining how negotiators were trying to move forward.

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