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 BUSAN, South Korea (AP) - The current stalemate over agricultural subsidies and other issues could cause global trade talks to collapse unless progress is made at next month's World Trade Organization meeting in Hong Kong, Asia Pacific countries are warning.
A draft statement being discussed by senior officials from the 21-member Asia Pacific Economic Cooperation forum, obtained Sunday by The Associated Press, strongly backs the WTO's current agenda for reducing subsidies and other barriers to free trade.
"We all agree that the Hong Kong ministerial (meeting) will be a critical step in achieving this goal," the draft says. "Yet, we are all seriously concerned that the current impasse in the negotiations may lead to a potential failure of the round."
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