Global trade pact needs to be 'fair': EU

(BRUSSELS) - A new global trade pact needs to be "fair and reasonable," Europe's trade commissioner said Wednesday, on the eve of a key WTO meeting in New Delhi aimed at helping drive the talks to a successful end.

The two days of ministerial level talks, which start Thursday, are seen as critical to laying the groundwork for progress at a meeting of leaders of the Group of 20 developed and emerging nations in Pittsburgh in late September.

EU Trade Commissioner Catherine Ashton and EU Agriculture Commissioner Mariann Fischer Boel will also hold bilateral talks with their Indian counterparts Anand Sharma and Sharad Pawar.

"A fair and satisfactory outcome to the Doha trade negotiations is important if we are to overcome the economic crisis," said Ashton.

"I welcome the Indian government's initiative to host this meeting, which presents the first opportunity for a large group of ministers to meet since the summer of 2008, and look forward to working together with India and other key WTO Members to move ahead with the talks."

Fischer Boel added: "I am very pleased that efforts are being made to get the Doha Round talks moving again. The EU will continue its proactive role in looking for a fair and balanced outcome."

The WTO negotiations began in 2001 with the aim of boosting global commerce to help developing countries, but deadlock between the major trading blocs has dashed repeated attempts to forge a new pact.

The most recent push last year in Geneva ended in failure, but with new governments installed in Washington and host nation India, there is renewed hope for success.