Geneva, July 24 :

Renewed efforts to revive global commerce talks appeared in trouble today as top trading powers said they had failed so far to make progress on thorny issues such as US and European farm support.

WTO chief Pascal Lamy called the series of meetings with ministers from Australia, Brazil, the 25-nation EU, India, Japan and the US to try to re-energise the trade liberalisation talks. Leaders of the G8 major industrialised countries reaffirmed their commitment to the talks at their summit in Russia last week, but it appeared that failed to translate into real negotiating action. Trade officials said yesterday’s meeting had not generated new hope.

Govts spend more on subsidies

GENEVA: Governments spent more than $300 billion on subsidies in 2005, the vast majority by 21 developed countries, a WTO report released on Monday stated. But few of the WTO member governments fully notify the organisation of their subsidies, even though they are obliged to. — AFP