Amid Slowdown, Trade Gets Another Shot

from The AP via Google

By EDITH M. LEDERER – 3 hours ago

DAVOS, Switzerland (AP) — With fears of a global recession growing, trade ministers met in the Swiss Alps on Saturday to see if they could advance long-stalled global commerce talks and provide a boost to a troubled world economy.

While expectations have been low, the meeting of about 20 countries could provide an indication of whether hopes can be revived for a global trade pact, touted as the best way to lift millions of people out of poverty worldwide.

It comes a day after U2 frontman Bono, Queen Rania of Jordan, Microsoft co-founder Bill Gates and other prominent speakers at the World Economic Forum demanded that people and businesses everywhere help reduce poverty for "the bottom billion" — who struggle to survive on less than $1 a day.

"We are here to say one thing loud and clear: Not on our watch," said U.N. Secretary-General Ban Ki-moon. "We should be the champions of the weak and disadvantaged, those who suffer the most grinding poverty."

A deal in the so-called Doha round of trade talks could be one way to improve their fortunes. It aims to cut tariffs and slash subsidies in global manufacturing and agriculture, with a particular emphasis on helping poorer countries develop their economies.

Rich countries would also benefit through new export opportunities, according to the blueprint agreed to in 2001. The talks, however, have repeatedly stalled and missed countless deadlines as a result of fierce battles between the United States, the European Union and other rich nations, and emerging powers such as Brazil, China and India.

Japan's leader, meanwhile, met with Bono, Gates, Senegalese President Abdoulaye Wade and others to discuss ways to help sub-Saharan Africa. "They conveyed to me what we should do to address issues of African development," Prime Minister Yasuo Fukuda said.

On Friday, British Prime Minister Gordon Brown said it was imperative that the world step up efforts to reach a series of sweeping U.N. goals to cut extreme poverty by half, give all children an elementary education, improve access to clean water and reverse the AIDS pandemic.

"In Davos we tell the truth," he said, "that there is a development and poverty emergency around the world, that if we do not act we have no chance of meeting the Millennium Development Goals by 2015."

Gates, who later this year will be stepping down as Microsoft chairman to concentrate full-time on his massive philanthropic foundation, led by example, announcing a grant of $306 million to help millions of African farmers and others work their way out of poverty.

Associated Press writers Paul Haven, Bradley S. Klapper and Peter Dejong contributed to this report.