Geneva, 15/12/2011 (Agence Europe) - At the opening of the eighth ministerial conference of the WTO, Pascal Lamy explained that in a worsening economic climate all countries had an interest in working closely together within the multilateral system. The head of the WTO put the cost of protectionism at €800 billion.
In his opening speech at the ministerial meetings of the 153 member countries, on Thursday 15 December, he warned that “the multilateral trade system provides an anchor in the storm. The high seas are currently destabilising and uprooting this anchor”. He added that “the cost of excessive protectionist measures could reach $800 billion” and called on all countries to defend the values of multilateralism and “demonstrate leadership and political courage by acting together in favour of continued openness and trade reforms”. Lamy did not hide his disappointment at the impossibility of concluding the Doha Round, launched in 2001. He stated: “You have failed in your efforts: the Doha Round is in an impasse… we cannot continue with our heads in the sand for much longer.” He urged governments to take action now and expressed his hope that the conference would decide on an operational work programme to follow the round, whilst adding that he would arrange a reflection group meeting in 2012.
At the same time as the plenary session, during which ministers will make prepared declarations, there will be three work sessions on the following themes: “The Importance of the Multilateral Trade System and the WTO”, “Trade and Development” and “The Doha Programme for Development”. The conference will also examine the accession of Russia, Samoa and Montenegro to the WTO. (EH/transl.fl)