The declaration issued by the leaders of the 20 largest economies meeting in Toronto, Canada in June repeated the group’s commitments to oppose protectionism and support open markets, but notably omitted a prior promise to conclude the World Trade Organization’s Doha round of trade talks by the end of this year.
The G-20 statement left out any reference to a date for concluding the round, and instead simply called for a “balanced and ambitious conclusion as soon as possible.”
Analysts say the omission signals the Doha round will not be concluded any time soon and talks remain deadlocked.
Bill Reinsch, president of the National Foreign Trade Council, told the WTO Reporter that the lack of a deadline is, “an acknowledgment of what everybody knows—the round is in trouble.”
U.S. President Barack Obama reportedly told his counterparts at the G-20 summit that the current offers on the table are not ambitious enough, particularly with respect to services.