United Nations Radio

Concluding the now-stalled Doha trade negotiations is increasingly critical as the global financial crisis spreads.

The warning comes from the head of the UN body that deals with trade and development issues - UNCTAD Supachai Panitchpakdi (photo,right) and his counterpart at the World Trade Organization Pascal Lamy (photo).

At a joint appearance at UNCTAD's annual Trade and Development Board, both officials stressed that reaching agreement on the seven-year-old negotiations was now important not only for the gains it would bring directly, but because it would inject confidence and order into shaken economies and financial markets.

The two officials said that recent economic progress made by poor nations since the turn of the Millennium has made it clear that stable trade- which requires a supportive international banking and financial climate- is vital.

And the head of UNCTAD said the financial slowdown that began a year and a half ago in developed nations is now having a growing impact in developing regions.

He said "we are witnessing a confluence of different crises this year", adding "As for Doha, we need this one multilateral effort to be completed successfully."

This is Donn Bobb reporting.

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