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Monday May 16, 01:32
New WTO chief determined to reach global trade agreement
(by Helen Snow)
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Pascal Lamy, a former EU’s trade commissioner, on Friday won a fight for the WTO’s director-general post. His four-year term is to begin Sept. 1.
The new head of the World Trade Organization promised to do his best and use all his formal power to realize a global trade agreement that is reaching a critical point of its development.
"It’s a very risky business; it’s not something that’s a given," Mr. Lamy said in his offices at think tank Notre Europe in Paris. "You aren’t the boss."
Mr. Lamy will have to prove his ability to settle difficult contradictions at meeting of ministers from 148 countries scheduled to take place in Hong Kong in December. The meeting will show the destiny a trade pact called the Doha Round aimed to cut trade barriers in agriculture, manufacturing and service in order to help the developing countries. The talks were long but every time met some obstacles.
In addition, the WTO’s dispute-settlement system faces growing criticism, especially from the U.S.
Despite all the difficulties, some experts believed Mr. Lamy’s experience as a negotiator would help to solve contradictions in the current round of trade talks.
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