Hope for trade

The daily Frankfurter Allgemeine Zeitung is confident that the WTO negotiations will reach a successful outcome: "[The director general of the WTO] Pascal Lamy was last week among the incorrigible optimists who still believed that the Doha round on the liberalisation of trade would be successful. ... Lamy was pinning his hopes on the talks in the smaller forum of the seven most powerful trading groups. ... This group has found a compromise whose most prominent feature is a major reduction in EU agricultural subsidies (which even then will still be too high). The sudden power game of the major nations, which until then had been exchanging tough words, took everyone by surprise. Many states will try in the next few days to make adjustments to the principle agreement on agriculture and industry or to gain advantages in the services sector. But the future path is basically clear. There is thus good reason now to hope for a compromise that will boost world trade."

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