International business negotiation 'to be boosted by G20 summit'
G20 Summit talks could boost international business negotiation.
International business negotiation could be given a boost by the upcoming G20 Summit, which is due to take place in Korea this November, the head of the World Trade Organisation (WTO) as claimed.
According to Reuters, WTO director general Pascal Lamy said that the Doha round of world trade talks, which has been ongoing for nine years, could be given new purpose and direction at the meeting of world leaders.
Speaking at the Global Services Summit, a collection of trade officials from around the world, he said that political signals are needed from the world's biggest powers to show which direction business negotiations should be taking.
"At this stage, this is technically doable. But whether and when the chemistry will unfold I'm not sure," he was quoted by the news provider as saying, in response to a question on whether the negotiations would be concluded before the tenth anniversary of their launch.
Talks cover a range of different sectors, including agriculture, manufacturing and services, and Mr Lamy said he hoped progress would be made by the end of October.
The G20 membership is made up of the UK, the US, Brazil, Canada, China, France, India, Japan, Russia and Saudi Arabia, among other countries.