Global trade talks begin in India

Trade ministers begin bilateral talks in New Delhi today ahead of a formal meeting of the main four trading powers negotiating…

Trade ministers begin bilateral talks in New Delhi today ahead of a formal meeting of the main four trading powers negotiating to give new momentum to global trade discussions.

Ministers from the United States and the European Union are to meet first for a couple of hours, followed by talks between the EU and Brazil, as each positions for a roundtable tomorrow.

Tomorrow's meeting will be the first formal one between all four trade leaders since talks broke down last July over differences centered on farm subsidies and tariffs.

Experts and negotiators are cautious not to raise expectations on how much progress can be made this week.

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While discussions have been going on behind the scenes since they were revived early this year, key sticking points remain.

"While this is essentially a stock-taking exercise, we are nevertheless at an important juncture in these talks," a source close to the negotiations said.

"We need to decide how to carry the process forward."

The United States is under pressure to make deeper cuts in farm subsidies than it has offered so far, while the European Union has been pressed for greater reductions in tariffs on farm products.

Developing nations, led by India and Brazil, are being urged to open their markets more widely to farm and industrial products.

Negotiations have missed a series of deadlines and World Trade Organisation Director General Pascal Lamy has warned they may fail.