Time Trap

The clock is ticking on a world trade negotiation deadline but the members of the World Trade Organisation are still at each other’s throats. The clock is ticking on a world trade negotiation deadline but the members of the World Trade Organisation are still at each other’s throats. On Thursday Australia, Brazil, the EU, India and the US announced a new consensus document to meet the WTO deadline of July 30 to take world trade talks forward.

But the rest of the 142 member countries of the WTO are not buying the deal that they say is a secret pact come up behind closed doors.

Now the five dealmakers are spending quality time with the rest of the WTO membership trying to sell their package on taking agriculture talks forward.

The WTO met in Cancun last September, to try to push world trade talks forward.

But the Cancun Ministerial fell flat with developed and developing countries polarising in differences and the entire 147 WTO-membership fragmenting into self-interest based groupings.

Following the Cancun failure, the WTO is now hoping to come up with a ‘July Package’ that would set a basic framework on how to take trad