World Trade Organization chief Pascal Lamy told a business forum in Sydney that while global trade talks are progressing and differences are narrowing, they need political will to bring them to a final conclusion.
Agricultural negotiations started in Geneva on and talks on cutting industrial tariffs will start in two weeks. Lamy says he hopes to reach a compromise by November on farm subsidies and market access, which has been the main stumbling block of the Doha Round of trade talks.
He told the Asia-Pacific Economic Cooperation meeting that they have moved past the deadlock from earlier this year, and compared to a year ago the sides are much closer together. While there is no guarantee that it will get done, Lamy told the forum at APEC that completion of the talks is doable if the right political energy is brought to bear.