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Ministers from some 20 key WTO members stressed on Saturday the necessity to conclude the Doha Round of trade negotiations this year.
"All are aware that if they cannot conclude the Doha Round in 2008, probably they will never conclude," said Swiss Economics Minister Doris Leuthard after hosting an informal lunch meeting of the ministers.
Leuthard said due to the upcoming U.S. presidential elections and the change of government, it is impossible to delay the global trade talks into 2009.
"The ministers agreed that it's a momentum also because of the financial crisis which can affect the world economy," she told a press conference.
"We can give a strong signal to stabilize the world economy when you achieve the goal to conclude the Round in 2008," she added.
Present at the lunch meeting were U.S. Trade Representative Susan Schwab, EU Trade Commissioner Peter Mandelson, Brazilian Foreign Minister Celso Amorim and Indian Trade Minister Kamal Nath, among others.
At a separate press conference, Amorim also said that it was necessary to conclude the Doha Round in 2008, not only because of the U.S. elections, but also because of the current world economic uncertainties.
"It's important that the real world sends positive signals for the economy. This is important for every one," he said.
Amorim and other ministers also said that the Doha Round could be concluded in 2008.
"I am hopeful we are able to do it, of course it will cost some efforts on the part of everyone," Amorim said.
"We believe this is possible, doable," said Schwab. She added that the Bush administration "is fully committed to a successful conclusion of the Doha Round in 2008."
According to Leuthard, a WTO ministerial meeting might be held in April to help reach a deal on the crucial issues of agriculture trade and industrial market access.
Then it would take about six to eight months to conclude the whole round, which also include a lot of other topics.
The overall goal of the negotiations, launched in 2001, is to bring down trade barriers and reduce world poverty through creating more trade opportunities.
But after more than six years of tough talks among WTO members, the negotiations are still stalled by major differences in agriculture trade and industrial market access.
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