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WTO Chief Admits Compromise on Failed Global Trade Deal Unlikely

Posted October 10, 2014

Under Economic Issues, International Trade Issues

(Barrie McKenna – Globe & Mail)

World Trade Organization chief Roberto Azevedo says efforts to salvage last year’s global trade deal will inevitably founder, leaving the institution adrift after nearly 20 years of failed deal-making.

Negotiators from Canada and other countries have been scrambling to broker a compromise since July, when India walked away from a sweeping agreement to simplify and standardize customs rules around the world in a dispute over food subsidies.

But Mr. Azevedo, a Brazilian diplomat who took over as WTO director-general last year, acknowledged Thursday that a compromise remains elusive and no agreement is in the offing. Read more here.