Poor nations stand to lose the most from WTO
failure
BUDAPEST: Poor countries had the most to lose from the World Trade Organisation's
(WTO) failure last year in Seattle to set a new round of trade talks, WTO Director-General
Mike Moore said on Friday.
Moore, speaking at a business conference in Budapest, also said that the trade bloc
would be immensely strengthened by the admission of China, whose anticipated entry into
the WTO is viewed with some scepticism in the United States.
"Make no mistake: the world's poor are the real losers from Seattle,'' Moore told
the International Chamber of Commerce.
"We owe it to them not to let them down,'' he said.
A WTO conference last December in Seattle, marked by violent demonstrations against the
organisation, broke down amid sharp differences between the EU and the US on issues such
as agriculture and industrialised and developing countries.
Moore said he hoped a new round of world trade talks would be started soon, but gave no
specific timetable.--Reuters