Cancun trade meetings drawing to

Cancun trade meetings drawing to a conclusion

Today is the last day of the Cancun trade meetings.

I posted yesterday (here: "What's the 'Group of 22' ") on the status of the agricultural negotiations.

Today Peter Gallagher brings the story of the negotiations up to date through Saturday afternoon, here: "Battle at the buffet table ".

The New York Times website has a Reuters story filed today: "Clock Ticks Down at Tough Cancun Trade Talks"

"CANCUN, Mexico (Reuters) - Deeply divided and running out of time, world trade ministers made a final push on Sunday to bring rich and poor countries together and rescue troubled talks on freeing up global markets.

The trade talks on Mexico's Caribbean coast are laboring to bridge a North-South split on issues ranging from rich nations' massive farm subsidies to many developing countries' refusal to negotiate new rules on foreign investment...

Many delegates believed they would walk away from this beach resort with some kind of agreement but some questioned whether it would amount to a major breakthrough...

Ministers need to find enough common ground in Cancun to keep negotiations alive on new trade liberalization pact by the end of next year. The World Bank says a good deal would add more than $500 billion a year to global incomes by 2015 and lift 144 million people out of poverty.

Diplomats say failure in Cancun could kill off hopes for such a deal until way beyond 2004..."