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G8 to Launch New Round of Talks on Trade Liberalization
Leaders of the Group of Eight (G-8) nations agreed Saturday to launch a new round of talks on global trade liberalization at the end of this year, Japanese government officials said.
The agreement was reached here on the second day of the three- day Okinawa summit of the G-8 which is comprised of the United States, Russia, France, Germany, Italy, Canada, Britain and Japan.
Japanese Prime Minister Yoshiro Mori, chairman of the summit, was quoted as saying, "I think we share the view that launching the new round by the end of this year would be most desirable."
However, some G-8 leaders were cautious concerning the timing of the new round of talks, according to the officials.
The officials also noted that it remains to be seen whether a joint declaration, to be released by the G-8 leaders Sunday, will recommend the talks' timing.
Since the ministerial talks of the World Trade Organization ( WTO) failed to launch the new round in Seattle last December, the issue of its timing has grown contentious among major industrialized countries and developing nations.
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