Emergence of New Round Is Uncertain

Negotiations for the emergence of the New Round at the Fourth World Trade Organization (WTO) Ministerial Conference brought in no agreement because the EU and resolute developing countries did not budge an inch regarding some key controversial issues.

WTO Ministerial Conference chairman Youssef Hussain Kamal (Qatari Finance, Economy and Trade Minister) decided to make a revision (fourth revision) of the third ministerial conference declaration draft and to put it to the discussion as to whether or not the member nations ought to accept it.

Hwang Doo-Yun, Korea`s minister for trade and head of Korean delegation said on Nov. 14, ``Among 6 key controversial issues, anti-dumping abuse issue and public health issue were agreed upon, but no agreements have been made on the other 4 issues, namely, agriculture, environment, the observance of WTO agreements and policies for investment and competition.`` and continued, ``Even though there are lots of expectations about the emergence of the New Round, it is hard to affirm any successful result.``

Among those concerned with negotiations is there a pessimistic view that the New Round may not emerge smoothly if the session is extended since the conflicting interests of the countries concerned were not lessened even after the deadline for the negotiations (Nov. 13). Chairman Kamal convened a plenary meeting of head delegations of member countries at 10:00 AM of Nov. 14 (4:00 PM Korean Time). At this meeting member countries will raise their opinions about the newly revised draft of ministerial conference declaration and discuss whether nor not to accept it.

Member countries resumed the plenary meeting at 11:00 of Nov. 13 (5:00 AM of Nov. 14 Korean Time) but the meeting was dismissed in 40 minutes without discussing whether or not the third revision of the ministerial declaration should be accepted as the differences of opinions between the EU and the resolute developing countries were not removed.

Meanwhile, delegations of member countries including Korea, postponed their return schedule for a day with an expectation of the last moment agreement.

sckim007@donga.com