Sliver of hope for global trade deal
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13/07/2005
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Financial Times (London)
Ministers from the world's largest trading nations ended a crucial meeting on Wednesday with a sliver of hope that a framework for a new global trade deal could be agreed in time for a make-or-break December summit in Hong Kong. Bo Xilai, China's commerce minister, who chaired the meeting at Dalian in northeastern China, said in a closing statement that the 30-plus nations had agreed to consider discussing a possible plan for a cut in farm tariffs, the most difficult issue in the negotiations.The plan, produced by the G20 group of developing nations, aims to bridge a divide between the European Union and the US on the issue that has threatened to impede the start of detailed talks on reducing barriers in industrial and services trade, the two remaining important sectors.