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Wto talks collapse
15 September 2003
The World Trade Organisation talks in Cancun have collapsed after the European Union and the United States refused to give major concessions to a bloc of developing countries. Agreement could not be reached on proposals from Europe, Japan and others to expand the WTO and bring in new negotiations to liberalise investment, competition, government procurement and trade facilitation (known as the 'new issues').
Friends of the Earth said that developing countries' rejection of the 'new issues' demonstrated the resolve of poor nations to stand up to the rich countries and their multinational corporations who were lobbying for greater access to developing countries' markets.
Friends of the Earth International Trade Coordinator Ronnie Hall said:
"No deal is better than a bad deal. Despite intense pressure from the business lobbies and bullying by the European Union and the US, developing countries have stood their ground. This is a great development for people, small businesses and the protection of the environment.
"The WTO is finally seen for what it is: an institution with no legitimacy, working to promote corporate interests. The world must now come up with new proposals based on fair and sustainable economies for everyone."
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Published by Friends of the Earth Trust
Last modified: Jun 2008
