GENEVA: Saudi Arabia said it will stand by its commitments to the World Trade Organization (WTO) with regard to the trade of commodities and services and expressed its hope that all member countries would do the same.
Speaking at a WTO ministerial conference currently being held in Geneva, Minister of Commerce and Industry Abdullah Zainal Alireza said, “The G20 has urged all countries not to resort to protective measures, review their negotiating stands and look at the flexibility they could offer in order to end the Doha Round talks as early as possible.”
He added that the Kingdom has been an active and committed member in the activities of the WTO, particularly being a country with a vast energy source. It has also been standing for the interests and views of energy exporting countries in various WTO discussions, he said.
The Kingdom recently suggested the release of commodities involved in major technologies and related to carbon capture and gas emissions from other active technologies in the trade and environment discussions. The minister viewed that the climate issue should not be discussed in the WTO as it has an extremely vital role in the running of the world economy as a whole. He added that Arab countries intending to join WTO should be allowed in under fair conditions, particularly less developed states.
Meanwhile, ministers at the meeting moved on Tuesday to bridge a gap between emerging and developed nations which has long delayed a global trade pact ahead of a 2010 deadline set by world leaders.
The two sides appear unwilling to offer concessions over the level of cuts to agriculture subsidies and industrial product tariffs that had caused an eight year stalemate in the Doha round of global trade liberalization talks.
But some ministers remain optimistic that differences could be narrowed.
“There are domestic and strong expectations and strong political will to conclude the round, and people will come forward with constructive suggestions,” Australian Trade Minister Simon Crean told reporters.