Delay in key WTO farm talks

The postponement also came a day before a key meeting between trade ministers of a core group of representative trade powers 8212; Australia, Brazil, the European Union, India and the United States 8212; in Paris on Saturday and Sunday. Diplomats said the delay in WTO farm negotiations would not prevent the five trying to move their very different positions on this and other issues closer, but it would mean they were unlikely to come to any conclusions.

Trade sources said the talks, which were to be held on July 14-16, could take place just a few days later 8212; but that moves them closer to a July 31 deadline for overall agreement on the next stages of the troubled WTO8217;s Doha Round. The Doha Round 8212; launched in November 2001 and covering tariffs on industrial goods and services as well as WTO open trading 8212; was originally due to be concluded with a new global trade pact by the end of this year.

Diplomats in missions to the WTO and trade analysts say a final agreement 8212; which international financial institutions argue would give fresh vigour to the world economy 8212; is now unlikely before 2007 at best. 8212;Reuters