Economic Crisis Could Help Re-Start Doha Trade Talks

(Journal of Commerce Online)

British Prime Minister Gordon Brown today called on leaders to use the global economic crisis as an opportunity to reform the world’s financial system, and to conclude long-stalled trade negotiations.

Brown said a global economic summit would aim to re-launch the Doha Round of World Trade Organization talks and could be held as soon as November or December involving the United States, European nations and emerging nations such as China and India.

Brown said that reforming the International Monetary Fund was "urgently needed so that we can restore confidence" in the global financial system.

“I believe there is scope for agreement in the next few days that we will have an international meeting to take common action...for very large and very radical changes," Brown told reporters in Brussels before meeting with other European leaders to discuss the financial crisis. “The IMF has got to be rebuilt as fit for purpose for the modern world. We need an early warning system for the world economy."