Arroyo to push for Doha trade deal

from ABS CBN

President Arroyo on Thursday welcomed the resumption of the Doha Round global trade talks, saying that the multilateral trading scheme remains the best way to thump poverty, which has long held the Philippines from stepping up into the rank of a developed country.

"The multilateral trading system, through the Doha Round, remains the best option to address poverty and improve standards of living around the world through an agreed set of international trade rules," she said during a two-day conference on mobilizing aid for trade among poorer nations in Asia-Pacific.

"That does not mean we believe that countries like the Philippines are ready to compete head-to-head today in every sector, but it does mean that we cannot afford to be afraid of globalization," she added.

Mrs. Arroyo noted that while developing countries await a successful conslusion of the so-called Doha Round, they are maximizing the economic opportunities under the bilateral and regional free trade agreements.

"Even as we work tirelessly to move the talks forward, we are not going to stand by and do nothing. For us, it is full speed ahead, preferably with Doha, but full speed nevertheless."

The President said some developed members of the World Trade Organizations have expressed willingness to fully adhere to the Doha mandate, which aims to remove barriers to global trade such as tariffs and subsidies.

The Doha talks, which started in 2001, have seen deadlock after great powers debated over removal of certain tariffs, particularly on the agricultural sector.

In order for the Doha Round to be fulfilled, Arroyo said better coherence among international development institutions like the World Bank, International Monetary Fund, Asian Development Bank and the World Trade Organization must be forged, so that trade is focused on the agenda of development.

"We must review special and differential treatment beyond just the phasing of commitments but also capacity building and sufficient flexibility to pursue domestic development goals."