Spurred by the Group of Eight summit of major industrial countries, ministers from Brazil, the European Union, India, Japan, United States and senior negotiators from Australia met with World Trade Organization chief Pascal Lamy to assess the state of play in the negotiations.

They agreed to schedule two further ministerial meetings, when they will try to agree on precise formulas for cutting industrial and farm tariffs and subsidies, said U.S. Trade Representative Susan Schwab.

Ministers will meet July 23-24 and July 28-29.

The trade talks aim to boost the global economy and lift millions out of poverty worldwide by lowering trade barriers across all sectors, with emphasis on developing countries.

G-8 leaders meeting in Russia July 17 called for greater efforts to move the talks forward, with Brazilian President Luiz Inacio Lula da Silva saying the negotiations were "in a crisis."

The Japan Times Weekly: July 22, 2006
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