G7 urges "significant progress" on trade at Hong Kong WTO

The finance ministers and central bank governors from the Group of Seven industrialized nations said in London on Saturday that the WTO talks in Hong Kong later this month must make "significant progress" on trade.

"An ambitious outcome from the Doha Development Round (of trade talks) by the end of 2006 is essential to enhancing global growth and reducing poverty," they said in a communique wrapping up their two-day talks here on Saturday.

"The Hong Kong Ministerial Meeting in 10 days will be a critical step and the opportunity must be seized to make progress including through agreeing a comprehensive development package that addresses the concerns of developing countries, in particular least developed countries," said the communique.

"We urge all participants to maintain a high level of ambition and to make significant progress on market access in agriculture, industrial products and services," it added.

Source: Xinhua