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WTO Members' trade ministers will be meeting in Hong Kong
in December 2005.
The Hong Kong Ministerial is not intended to produce the
final Doha Round agreements. Its purpose is for the ministers
to agree on the frameworks and formulas that will become the
foundation completing the negotiations.
The Hong Kong ministerial is an important step for this round
of multilateral negotiations. The Hong Kong ministerial must
break the negotiating logjam that is presently holding up
negotiations. At Hong Kong the Members must reach agreement
on the significant outstanding issues in each area of negotiation
so that the details of a comprehensive multilateral agreement
can be accomplished by the December 2006 deadline.
- Agriculture negotiators must come to an agreement
on key formulas and timetables for implementing the July
2004 agricultural framework agreement.
- NAMA negotiators must reach agreement on timetables
and formulas that reduce all tariffs and on a framework
for elimination of non-tariff barriers.
- Services negotiators must agree to start making
commercially meaningful offers of services liberalization.
- Trade Facilitation negotiations must show significant
progress in reaching an agreement that will reform outmoded
customs and port procedures.
The Doha Round recognizes that in the 21st Century the participants
in the world trading system, and the drivers of trade and
economic growth will be broader and more diverse than in previous
negotiations. A successful Doha Round is critical ensuring
continued economic growth in developed and developing countries
alike.
- The United States already has one of the most open
economies in the world. Liberalization in other countries
through the Doha Round will help level the playing field
for American exporters. Weakening of the final agreement
or delays in completion of the Doha Round will be costly
for America's businesses, farmers, workers and consumers.
- The Doha Round is the first round of global trade negotiations
to recognize the importance of developing countries in
global trade negotiation and to specifically address the
issues that are of particular importance to those countries.
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