Irish business and employers' lobby group Ibec described the collapse of the Doha round of global free trade talks as "a matter of serious concern".
The trade talks, considered to be a rare opportunity to increase growth and ease poverty, collapsed after nearly five years of negotiations.
Marathon talks between the so-called G6 - the United States, the EU, Brazil, Australia, Japan and India - lasting 14 hours yesterday came to nothing.
The European Union and India blamed the United States for the final breakdown, saying that Washington had been demanding too high a price for cutting into the some $20 billion it spends annually on farm subsidies.
Ibec's director of trade policy, Mr Pat Ivory, echoed the EU and Indian position, blaming "unwillingness by the US" to reduce its support for American farms for the talks breakdown.
Mr Ivory added that emerging economies such as India and Brazil should "open up their markets" to food and industrial products from other countries.
Ibec called on the concerned parties "to get back around the table as quickly as possible to reach a balanced agreement, as failure to do so could result in an escalation of trade dispute cases at the WTO".
