August 4, 2008: Europe is assessing the outcome of the failed world trade talks with a view to beginning fresh negotiations with key partners, the European Commission President José Manuel Durão Barroso has said.

Mr Barroso said collapse of the talks was “a profound disappointment” for the commission and the EU who saw many trade opportunities in it.

“We worked for a fair and balanced deal that would have created a win-win situation for all sides. Such a deal would have given the world economy a much welcome boost,” he said in a statement.

Latest attempts to find a mid point for global trade under the WTO framework collapsed in Geneva amidst a fall out between the US and emerging Asian economies such as Indonesia, China and India over farming pacts.

This latest drive was mooted seven years ago to try and address the requirements of growth among developing nations. In the run up to the talks African states had prepared a seven-point demand list for negotiation with their partners.Key on the list was presented to the delegates in Geneva by Trade minister Uhuru Kenyatta was elimination of tariff and non-tariff barriers and other trade distorting measures in agriculture.

The African group was particularly keen on the removal of subsidies to cotton growers in the United States among other agricultural commodities.

Market access

“Streaming development in the Doha Round requires a resolution of long-standing preference erosion through an implementation period of at least 10 years and a firm commitment in terms of technical assistance during the transition period,” Mr Uhuru said on behalf of the Africa WTO group.

The African bloc also demanded for redress on market access for non-agricultural products (NAMA) arguing that there was need to resolve non-reciprocal preferences both in terms of product coverage and the implementation period.  They also requested that products identified as vulnerable to preference erosion be excluded from sectorial initiatives.

The group had further sought progress on trade related intellectual property rights (TRIPS) agreement with specific reference to the Convention on Biodiversity (CBD) besides finding breakthrough on how to maximize on the opportunities posed by the services sector.

“The ministers reaffirm the position of the African group set out in the joint ACP proposal on special and differential treatment and technical assistance on corrective measures, amending Article 15 of the Anti-Dumping Agreement,” he Africa group said in its communique.

Africa also demanded a balanced agreement on fisheries, taking the issues of subsidies, small-scale fishing and the African fishing industry into consideration.

A final action demand by the Mr Kenyatta-led team was that developed nations facilitate the accession process of Least Developed Countries (LDCs) currently working to join the WTO without compelling them to make concessions beyond the WTO rules and their respective levels of development.

But with the fall out between the US and the Asian tigers, the dreams of African blocs were blown up triggering widespread frustration amid concerns that African economies that are currently heavily leveraged on agriculture would continue suffering.

This is in the light of the fact that subsidised products from the developed world would continue to out-smart rival products from Africa that is also heavily burdened with poverty.