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US Congress should extend ‘fast-track’ trade authority - Lamy
March 4, 2008 on 9:17 pm | In Currency |
WASHINGTON (XFN-ASIA) - World Trade Organization head Pascal Lamy urged the US Congress to extend special presidential trade powers to advance the stalled Doha Round of global trade talks.
Winding up a three-day visit to Washington, the WTO director general said he had met with the main players in US trade and had spent “most of my time” with members of Congress.
Lamy, speaking at a joint news conference with US Trade Representative Susan Schwab, said he had delivered a message on US President George W. Bush’s “fast-track” Trade Promotion Authority.
Under the five-year TPA, which is set to expire July 1, Bush has the power to submit trade deals for accelerated approval by lawmakers in a straight “yes” or “no” vote, without amendment.
“We’re nearing crunch time in the Doha Round,” Lamy said he told members of Congress, since January led by opposition Democrats who may refuse to extend the TPA to a Republican president.
“We need Congress to be aware that activity, motion, determination, progress in a renewal of Trade Promotion Authority is important for the momentum in the negotiations.”
The Doha Round, launched in 2001 in the Qatari capital, has repeatedly missed deadlines as wealthy and developing nations have struggled to strike a deal on opening up trade in agricultural, industrial goods and services.
Schwab raised the possibility of a ministerial meeting of the so-called Group of Four countries - the European Union, the US, Brazil and India - on the sidelines of a mid-May meeting of the Organization for Economic Cooperation and Development in Paris.
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