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China, G8 discuss global growth, trade
(Xinhua)
Updated: 2006-02-13 13:42
A Chinese high-level finance official on Saturday called on the Group of
Eight (G8) leading industrial nations to play a more active role in moving
forward the Doha round of trade talks.
China's Vice Minister of Finance Li Yong and finance officials from rising
economies of India, Brazil and South Africa discussed global economic growth and
trade with G8 finance ministers at a G8 meeting in Moscow.
China believes efforts should be made to build on the achievements of the
World Trade Organization Ministerial Meeting held in Hong Kong in December 2005,
and move forward the Doha Round of trade talks toward a comprehensive and
balanced agreement, Li told the G8 finance ministers.
While providing aid for trade to developing countries, developed countries
should take the lead in reducing tariffs on agricultural products and farm
subsidies, enhancing market access, improving the trade environment and
implementing special and differentiated policies for developing countries, Li
said.
The participants at the discussion agreed that global economic growth remains
stable but still faces many challenges. In particular, the next phase of the
Doha Round talks could have great impact on the sustained, stable growth of the
global economy, the improvement of the multilateral trading system and the
global efforts to reduce poverty, they said.
The participants noted the progress made at the Hong Kong Ministerial Meeting
in December 2005 in reducing farm export subsidies, the cotton issue, the
abolishment of tariffs and quotas for the world's least developed countries, and
developed countries' commitments to increasing aid for trade to developing
countries.
But, the participants said, differences remain, including over such core
issues as agriculture and market access for non-agricultural products. They
urged participating countries in the trade talks to show a greater political
resolve to complete the Doha Round by the end of 2006.
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