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Bush challenges world to use Doha Round to eliminate all tariffs, subsidies, other barriers to free flow of goods and services
By Finfacts Team
Sep 14, 2005, 22:47
President George W. Bush signs the Convention for the Suppression of Acts of Nuclear Terrorism Treaty at the United Nations in New York Wednesday, Sept. 14, 2005. White House photo by Eric Draper
US President
George W. Bush in a speech at the UN summit in New York on Wednesday,
said he was willing to eliminate all trade barriers if other countries
did the same, issuing a challenge that could add momentum to ongoing
key talks on world trade.
Trade specialists are unlikely to
expect Bush's challenge being taken up but the attention he gave to trade
in his speech could spur attention to the World Trade Organization
talks on trade and development, known as the Doha Round.
``The United States is ready to
eliminate all tariffs, subsidies and other barriers to free flow of goods and
services as other nations do the same,'' Bush told other leaders. ``The
elimination of trade barriers could lift hundreds of millions of people out of
poverty over the next 15 years.''
Bush said the stakes were high for
a successful conclusion to the Doha talks, which aims to lower trade barriers
for everything from agricultural goods to services and promote economic
growth in the poorest countries. He devoted a three paragraphs to Doha in
the 25-minute speech.
EXTRACT
A successful Doha Round will reduce
and eliminate tariffs and other barriers on farm and industrial goods. It will
end unfair agricultural subsidies. It will open up global markets for services.
Under Doha, every nation will gain, and the developing world stands to gain the
most. Historically, developing nations that open themselves up to trade grow at
several times the rate of other countries. The elimination of trade barriers
could lift hundreds of millions of people out of poverty over the next 15 years.
The stakes are high. The lives and futures of millions of the world's poorest
citizens hang in the balance -- and so we must bring the Doha trade talks to a
successful conclusion.
Doha is an important step toward a
larger goal: We must tear down the walls that separate the developed and
developing worlds. We need to give the citizens of the poorest nations the same
ability to access the world economy that the people of wealthy nations have, so
they can offer their goods and talents on the world market alongside everyone
else. We need to ensure that they have the same opportunities to pursue their
dreams, provide for their families, and live lives of dignity and self-reliance.
And the greatest obstacles to
achieving these goals are the tariffs and subsidies and barriers that isolate
people of developing nations from the great opportunities of the 21st century.
Today, I reiterate the challenge I have made before: We must work together in
the Doha negotiations to eliminate agricultural subsidies that distort trade and
stunt development, and to eliminate tariffs and other barriers to open markets
for farmers around the world. Today I broaden the challenge by making this
pledge: The United States is ready to eliminate all tariffs, subsidies and other
barriers to free flow of goods and services as other nations do the same. This
is key to overcoming poverty in the world's poorest nations. It's essential we
promote prosperity and opportunity for all nations.
