*Ø* Blogmanac | Rich versus poor as trade talks turn into a bunfight

"World trade reform negotiations were at serious risk of running off the rails last night as ministers from developing countries accused the organisers of drafting an agreement favouring rich countries.

"The draft proposed global rules for foreign investment, despite overwhelming opposition from poorer countries.

"With only hours to go before its scheduled end, the World Trade Organisation's ministerial meeting here appeared to be splitting along north/south lines.

"Australia's Trade Minister, Mark Vaile, also warned of a potential breakdown in negotiations unless the draft was revised to include an unambiguous decision to phase out export subsidies in agriculture.

"But while Mr Vaile expressed disappointment, developing country ministers led by India were furious that the proposed agreement included negotiation of a multilateral agreement on investment, despite more than 70 countries declaring their opposition ..."
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