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Trade Ministers Seek Pact on Open Markets

September 11, 2006|From Bloomberg News

Trade ministers from the U.S., Europe and other countries agreed that talks toward a global pact to dismantle market barriers must resume, World Trade Organization Director-General Pascal Lamy said.

Ministers from the so-called Group of 20 countries, including European, U.S., Brazilian and Indian trade officials, are meeting in Rio de Janeiro to try to restart trade talks six weeks after the WTO suspended negotiations.

A global trade agreement would dismantle market barriers and stimulate economic growth, pumping at least $96 billion into the world economy and lifting millions out of poverty, according to the World Bank.

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