Brazil, EU 'optimistic' about clinching WTO deal

(GENEVA) - Brazil and the European Union's chief trade negotiators expressed optimism Monday that a global trade liberalisation deal could be done, saying that there was increasing convergence in their views.

"I think that ... to a large extent now, both Brazil and the EU can help to come to a final deal," Brazilian Foreign Minister Celso Amorim said after talks with his EU counterpart Catherine Ashton.

He said both parties now have "converging views" and that they shared a "common interest in bringing this round to a close."

Ashton said she was "cautiously optimistic" about concluding the so-called Doha Round, noting that there were still issues to be addressed.

"I think we are at a point in our discussions when I can see a potential to complete this round," Ashton added in a joint press conference with the Amorim.

Launched in the Qatari capital in late 2001, the WTO's Doha Round has floundered ever since in disputes between developed and developing countries on how to ease barriers to trade in agricultural and industrial products.

With calls mounting for a deal by the year's end as part of efforts to combat the global financial crisis which has slowed economic growth sharply, talks in Geneva have picked up speed over the last week.

Amorim shrugged off concerns that a change in the US presidency could make it difficult for the outgoing administration to hammer out a deal, saying that the change in fact made it more imperative to have an accord.

"This is actually the best moment to have a deal ... if we don't finalise now, (the new US President) doesn't have to make any decisions, he can wait six months, one year," Amorim said referring to President-elect Barack Obama.

"I think this is a moment that we can negotiate, which somehow makes it easier for both sides -- for the outgoing and the incoming (administration) to have a deal which is in the interest of the US, in the interest of the world and maybe not to submit to specific lobbies," he added.