August 1, 2008
International talks aimed at ushering in a new era of free trade collapsed in Geneva yesterday during a bitter split between developed and developing countries over the future shape of global commerce.
The failure of the talks after nine days of intense negotiations underscored what is likely to be the biggest challenge in coming years to expanding world trade: the reluctance of emerging juggernauts such as India and China to risk their newfound success by offering rich nations greater access to the hundreds of millions of consumers rising out of poverty in the developing world.
The Sheepmeat Council of Australia is bitterly disappointed that Australian lamb and sheep meat will effectively remain locked out of the European Union (EU) market. Australia was hoping to gain additional access to the highly restrictive EU markets by increasing its quota levels through these trade talks.
The American Sheep Industry Association has policy supporting the elimination of European subsides and import quotas for sheep and sheep products, and if they are not eliminated, then establishing an equitable system for U.S. producers. Reprinted in part from Washington Post