OECD countries put their weight behind WTO trade talks

OECD – Organisation for Economic Co-operation and Development – countries agree to put their weight behind multilateral trade talks. OECD – Organisation for Economic Co-operation and Development – countries agree to put their weight behind multilateral trade talks. Ministers from rich countries like the US, EU, Japan and from developing countries, like India and China, agreed to fast track international trade talks at the end of the OECD Ministerial Council Meeting on Wednesday.

“There is no viable substitute for an effective multilateral trading system,” said a statement from the OECD on Wednesday.

“We commit to expedite the preparations for a successful WTO Ministerial Conference in Hong Kong in December. Results-oriented work is needed to produce a good basis in July for the ministerial meeting,” it said.

On Wednesday the head of the World Trade Organization (WTO), Supachai Panitckpakdi, asked OECD Ministers to throw their weight behind multilateral trade talks now stuck on technicalities.

These technicalities must be sorted out by the time Ministers from WTO countries meet in December this year, to finali