Pascal Lamy, head of the World Trade Organization (WTO), on Friday called for an end to farm subsidies and protectionism by rich countries.

Speaking at a press conference after wrapping up a two-day visit to Argentina, Lamy also called on all countries, large or small, to do their best to complete liberalization of world trade.

"The large need to do so more than the small, but all have to do something" to try to reach the agreement first sought at the Doha round of WTO talks, Lamy said after meeting with Argentine President Nestor Kirchner, Economy Minister Felisa Miceli and Labor Minister Carlos Tomada.

"The negotiation table is available," he said, adding that it is time to end subsidies in the United States, the European Union, Japan and South Korea, and end protectionism.

"I think the path will become clear during the first half of 2006," the WTO chief said. The second half could be more difficult because of elections in the United States, Brazil and Mexico, as well as the exit of Japan's prime minister, he said.

The WTO chief praised Argentina for "opening up markets," saying that in the last four decades only one country had passed through the two extremities of trade policy -- from an extremely closed economy to an extremely open one. "That was Argentina."

"History has shown that opening up markets is a good thing. The problem in Argentina was that monetary policy was confused with liberalizing trade," he added.

Argentina pegged its currency one-to-one to the U.S. dollar for 10 years from 1991 to 2001, during which it opened up domestic markets and borrowed internationally. When the currency was finally floated, it crashed to 25 percent of its former value.

Source: Xinhua