Make-or-break world trade sessions get underway

More than 30 trade officials are gathering in Geneva Monday for what's described as a make-or-break meeting to deliver a deal on world trade. The World Trade Organization will work on an agreement covering agriculture and manufactured goods during the week-long meeting on the so-called Doha Round. It was launched nearly seven years ago with the goal of helping developing countries prosper through trade and cutting farm subsidies and tariffs. The 153-member international body, which deals with rules of trade between countries, is under pressure from the U.S. to produce a global trade deal before U.S. President George W. Bush finishes his time in office in January. WTO Director-General Pascal Lamy said he gives this trade round more than a 50 per cent chance of succeeding. Talks have repeatedly stalled since its inception in... [read full story]