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The Doha negotiations have been billed as a way of boosting economic development among the poorest countries, by reducing barriers on their exports to wealthier markets. The WTO's director general, Pascal Lamy, has been telling the Davos gathering of political, business and academic elites that an international trade deal would provide a $1 trillion boost to the global economy. He estimates world trade is worth about $22 trillion. Flanked by Schneider-Ammann, Lamy told reporters that he believes it is technically "do-able" to craft draft agreements on some of the key elements of a deal by next summer. U.S. Trade Representative Ron Kirk said he had to "temper" his enthusiasm for a deal since it has eluded the world for a decade. Areas of dispute include tariffs on manufactured good, agricultural subsidies, market access and intellectual property rules. Brazil, China and India have resisted U.S. demands to lower taxes on imports of manufactured goods. "But, at least of the 24 countries represented today, it felt like we had made more substantive progress," Kirk said in an AP interview. "The good news is we've spent a lot of work on a smaller, more realistic package centered around trade facilitation, which can be a huge benefit to developing economies. And it feels like that is starting to bear fruit." Kirk, who leaves his job next month, said the ministers renewed their commitment "to double down, do what we need to do" to reach a deal in Bali. "I'm as hopeful as I've been in a long time."
[Associated
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