Doha round best insurance against protectionism: WTO chief

SEOUL, Feb. 23 (Yonhap) -- Reviving moribund global talks on free trade is the
best option to stave off looming protectionism amid a slumping world economy, the
chief of the World Trade Organization (WTO) said Monday.

The Doha round of trade talks, which began in 2001 and aims at liberalizing
global trade, is on the brink of collapse after a row in July last year between
the U.S. and major developing economies over agricultural import rules.
Subsequent attempts to revive the talks have so far been unsuccessful.
"Completing the Doha round negotiations as quickly as possible is the best
insurance policy available on the market against protectionist moves," WTO
director-general Pascal Lamy told an international forum here.
Lamy, who heads the 153-member global trade body, said uncertainty arising from
the current economic crisis seems to be fueling protectionism, which he warned
would not help the global economy overcome pending issues.
"We should resist raising trade barriers," he said. "This round is a long and
difficult journey, but we are not far from the final destination. And it deserves
utmost efforts."
Anyone who believes they can protect themselves without others doing the same
bears the risk of prompting retaliation by other countries and shrinking output
and jobs around the world even more, he said.
Lamy said that the leaders of the G-20 called for a rapid conclusion of the trade
negotiations during a November meeting.
Leaders from the G-20 are set to meet in London in April to discuss a global
response to the world economic crisis.
"The next summit in London will be a critical test of the major economies'
capacity to work together in searching for solutions to pull out of the
recession," Lamy said.
sam@yna.co.kr
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