By IRNA,
Berlin : The German government on Tuesday expressed regret over the breakdown of crucial World Trade Organization (WTO) talks aimed at liberalizing global trade.
“An agreement at the multilateral trade negotiations would have been been an important signal at the right moment for the world economy,” said deputy German Economics Minister Bernd Pfaffenbach in Berlin.
He added the German government would work diligently towards resuming WTO trade talks.
“We cannot afford any lengthy idle period,” stressed Pfaffenbach, pointing out that all WTO members would stand to profit from open markets.
WTO negotiations on the conclusion of the Doha round finally collapsed Tuesday after nine days amid major differences pitting the United States on one side and India and China over opening of agriculture markets.
Talks could be reportedly renewed in fall after around 40 ministers were unable to seal a compromise deal geared at liberalizing global trade after China, India and the US failed to reach an accord on the farm import regulations.