By Martin Khor, TWN Info Service on WTO and Trade Issues (Feb06/8)
The commodities crisis continues to plague developing countries and international action, particularly by UNCTAD, has to be urgently taken to address it, according to several participants at the UNCTAD Commission on Trade in Goods and Services and Commodities which is meeting here this week.
Doha opened the door in 2001 for correcting the iniquities and imbalances in the WTO agreements and Hong Kong provided an opportunity in December 2005 to take concrete steps towards this end. But the opportunity has been totally lost. The WTO appears to be set on the usual path of developed countries' pressure tactics and developing countries' weak submission.