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Latest News in Peru / Archive
Reaching Doha Round Goals is more Important that Beating the Global Financial Crisis
Vanessa Castro Chesterton
Reaching a positive agreement on the Doha Round has never been more important than now. It is a necessary step in order to find a solution for the global financial crisis, said Hong Kong Economic Leader Donald Tsang.
He referred to the World Bank’s study which points out that with the opening of the world’s commerce there could be a gain of between 290 billion to 460 billion dollars a year until 2015 and 100 million people in the world could stop living in poverty.
“I use these figures to highlight the tangible benefits that could be gained if the Doha round was successful. The effects of which would be felt both by developed and developing economies”, assured Tsang.
The main objective of the Doha Round is to make world trade free and to make impoverished nations reap its benefits. It also centers on getting Countries to reject protectionism.
He also pointed out that since 2001 Hong Kong has participated in the negotiations of the World Commerce Organization and that they are willing to commit to achieving the goals that the Doha round promises.
News source: Andina
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