Rich members urged to address poor's concerns at WTO meeting

A senior official of the World Bank (WB) on Thursday urged developed members of the World Trade Organization (WTO) to offer more trade opportunities to the developing ones.

"The major trading economies of the developed world are keeping big issues off the table ... The developed world can not continue to deny the poorest countries trade opportunities," said Danny Leipziger, head of the World Bank delegation to the Sixth WTO Ministerial Conference, which opened in Hong Kong Tuesday.

Leipziger, who is also the WB's vice president for poverty reduction and economic management, said an urgent action was needed if the Doha Round trade talks could deliver on its promise for the world's poor.

"Forgiving debt and increasing aid help but in the absence of new market and new jobs, they are not the answer," he said. "Only by giving the poorest people a chance to get jobs and generate income will the world become more equitable and more stable."

The WB official made the remarks after the European Union and the United States, which were blamed for reluctance to cut farm subsidies, announced the increase of their trade-related assistance to the developing countries.

The Doha Round, launched in the Qatari capital of Doha in 2001, has bogged down in a deadlock over farm subsidies, which developing countries say have prevented them from competing in the world market.

Source: Xinhua