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GENEVA, Switzerland (Reuters) — Global free trade talks collapsed on Monday after nearly five years of on-off haggling and resuming them could take years, officials and diplomats said.
The suspension of the World Trade Organization’s (WTO) Doha round, which was expected to be announced formally by WTO chief Pascal Lamy later on Monday, came after major trading powers failed in a last ditch bid to overcome differences on reforming world farm trade, which lies at the heart of the round.
“The WTO negotiations are suspended,” Indian Commerce and Industry Minister Kamal Nath told journalists. When asked how long the suspension could last, he replied: “Anywhere from months to years,” he said.
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