President John Agyekum Kufuor has expressed his desire for early reactivation of the collapsed World Trade Talks at informal meetings with his colleagues attending the Commonwealth Summit in Abuja, Nigeria.
A press release from the Office the Press Secretary to the President said President Kufuor shared his concerns on the collapsed Cancun Trade Talks and expressed the conviction that, the interest of developing countries would be better served by a rule-based multilateral trading system. He again called on Commonwealth States to overcome the asymmetries in political and economic power, to reform the multilateral system to meet the needs of world citizens.
At a meeting with the Indian Prime Minister, Atal Bihari Vajpayee, President Kufuor stressed the need for agriculture to remain the key variable for developing countries and urged developed countries to demonstrate their willingness to reduce the absolute value of subsidies, tariffs, quotas and other non-tariff barriers they provided to protect their farmers.
