TBD
Developing countries agree to work on reducing tariffs among each other
Developing countries participating in the Global System of Trade Preferences on Wednesday adopted a decision paving the way for tariff reductions for exports within this group of nations.
Jorge Taina
The reduction will be at least 20% and would cover 70% of the goods exported.
Ministers from the 22 countries participating in the negotiations, known as the "Sao Paulo round" which began in 2004, met under the auspices of the UN Conference on Trade and Development in Geneva.
The meeting was chaired by Jorge Taiana, Minister of Foreign Affairs and International Trade of Argentina. He said the group has set a timeline of intensive negotiations next year to conclude the tariff reduction agreement by September 2010.
"This is a clear demonstration that developing countries are willing to continue working in strengthening South/South trade and in a process of liberalization compatible with development."
Mr. Taiana said he hopes this will give a fresh impetus for wider trade negotiations.
Bissera Kostova, United Nations
(duration: 1'07" )
