Local view for "http://purl.org/linkedpolitics/eu/plenary/2006-09-05-Speech-2-021"
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"en.20060905.5.2-021"2
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"Mr President, the indefinite suspension of the Doha Round creates serious risks for our global economy. It threatens parity and prosperity for the developing world, jobs, growth and security in Europe, and the future of the multilateral trade system itself. A new explosion of discriminatory bilateral and regional agreements could substitute global liberalisation, eroding the multilateral and rules-based system of the WTO.
While some might say that no deal was better than a bad deal for developing countries, without the shield of the WTO – as you said, Commissioner – they will be left vulnerable to use and abuse in a unilateral scramble for trade domination. Failure will mean that protectionism will fill the vacuum as momentum towards wide-ranging reduction of barriers ceases; the world economy will slow down and global trade imbalances will continue to rise; financial markets will become more unstable; and international economic cooperation will break down further. With the erosion of the WTO system, speculation is rife about what form a ‘Plan B’ might take: perhaps and East Asia free trade area; perhaps Japan’s proposal for a pan-Asian comprehensive economic partnership that includes India, Australia and New Zealand. Either of those would create a new Asian bloc that, along with the European Union and NAFTA, would produce a tri-polar world with all its inherent instabilities.
Does the Commission agree that there is now an urgent need for a Plan B to get world trade policy back on track and for the EU to play a key role in shaping the world trade order? Does the Commission agree that such a strategy must have these three key objectives: to spur the revival of Doha; to offer an ambitious alternative to restart the process of liberalisation on the widest possible basis if our primary goal fails; and to counter the proliferation of preferential deals amongst small groups of countries?
Time and time again I have stood in front of you, Commissioner, and reflected on the finger-pointing blame game that has plagued progress. It is time to set that blame aside. The ‘Everything But Arms’ initiative shows that the EU can do good, but we can and must do better before the US mandate expires and, with it, our opportunity to eradicate poverty and distribute fairly the benefits of globalisation."@en1
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