{"page":"\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/resources-572d6a42.css\" /\u003e\n\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/lp_boclips_stylesheets-f4d0de30.css\" media=\"all\" /\u003e\n\u003cdiv data-title='WRAP Talks chairman and WTO chief close talks, round table' data-url='/boclips/videos/5c54ba8ad8eafeecae11e405' data-video-url='/boclips/videos/5c54ba8ad8eafeecae11e405' id='bo_player_modal'\u003e\n\u003cdiv class='boclips-resource-page modal-dialog panel-container'\u003e\n\u003cdiv class='react-notifications-root'\u003e\u003c/div\u003e\n\u003cdiv class='rp-header'\u003e\n\u003cdiv class='rp-type'\u003e\n\u003ci aria-hidden='true' class='fai fa-regular fa-circle-play'\u003e\u003c/i\u003e\nVideo\n\u003c/div\u003e\n\u003ch1 class='rp-title' id='video-title'\u003e\nWRAP Talks chairman and WTO chief close talks, round table\n\u003c/h1\u003e\n\u003cdiv class='rp-actions'\u003e\n\u003cdiv class='mr-1'\u003e\n\u003ca class=\"btn btn-success\" data-posthog-event=\"Signup: LP Signup Activity\" data-posthog-location=\"body_link_boclips\" data-remote=\"true\" href=\"/subscription/new\"\u003e\u003cspan\u003e\u003cspan\u003eGet Free Access\u003c/span\u003e\u003cspan class=\"\"\u003e for 10 Days\u003c/span\u003e\u003cspan\u003e!\u003c/span\u003e\u003c/span\u003e\u003c/a\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-body'\u003e\n\u003cdiv class='rp-info'\u003e\n\u003cdiv aria-label='Hide resource details' class='rp-hide-info' role='button' tabindex='0'\u003e\u0026times;\u003c/div\u003e\n\u003ci aria-label='Expand resource details' class='rp-expand-info fai fa-solid fa-up-right-and-down-left-from-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003ci aria-label='Compress resource details' class='rp-compress-info fai fa-solid fa-down-left-and-up-right-to-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003cdiv class='rp-rating'\u003e\n\u003cspan class='resource-pool'\u003e\n\u003cspan class='pool-label'\u003ePublisher:\u003c/span\u003e\n\u003cspan class='pool-name'\u003e\n\u003cspan class='text'\u003e\u003ca data-publisher-id=\"30356011\" href=\"/search?publisher_ids%5B%5D=30356011\"\u003eCurated Video\u003c/a\u003e\u003c/span\u003e\n\u003c/span\u003e\n\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-description'\u003e\n\u003cspan class='short-description'\u003e1. Wide of closing day meeting at the World Trade Organisation (WTO) summit2. John Tsang, summit chairman, zoom into wide of speakers on the stage3. SOUNDBITE (English): John Tsang, Chaiman of WTO summit and Hong Kong Commerce...\u003c/span\u003e\n\u003cspan class='full-description hide'\u003e1. Wide of closing day meeting at the World Trade Organisation (WTO) summit\u003cbr/\u003e2. John Tsang, summit chairman, zoom into wide of speakers on the stage\u003cbr/\u003e3. SOUNDBITE (English): John Tsang, Chaiman of WTO summit and Hong Kong Commerce Minister:\u003cbr/\u003e\"Unless there is any objection I would now like to propose that the ministerial conference adopt the Draft ministerial Declaration in document WT/MIN(05)/W/3/Ref 2, has amended to remove the square brackets in paragraph 11, as well as the textual amendments proposed in paragraphs 11 and 12. These amendments will be reflected in the final declaration which will be circulated following this meeting. I also propose that ministers take note of the understanding regarding the duty free, quota-free decision in sub-paragraph A(2) of the text. May I take it that this is agreeable to ministers?\"\u003cbr/\u003e4. Wide of conference\u003cbr/\u003e5. SOUNDBITE (English): John Tsang, Chaiman of WTO summit and Hong Kong Commerce Minister:\u003cbr/\u003e\"So agreed.\"\u003cbr/\u003e6. Audience clapping\u003cbr/\u003e7. Wide of conference\u003cbr/\u003e8. SOUNDBITE (English): John Tsang, Chaiman of WTO summit and Hong Kong Commerce Minister:\u003cbr/\u003e9. WTO Chief Pascal Lamy and Tsang\u003cbr/\u003e10. SOUNDBITE (English): Pascal Lamy, WTO Chief:\u003cbr/\u003e\"Today, as we close this week of intensive work, you've got good reasons to be okay. You've put the round back on track, you've given it a new sense of urgency, you've achieved a quantitative and qualitative improvement even if modest in the negotiations.\"\u003cbr/\u003e11. Delegates\u003cbr/\u003e12. SOUNDBITE (English): Pascal Lamy, WTO Chief:\u003cbr/\u003e\"You're also taking home a new balance in the agenda. You have rebalanced the round in favour of developing and least developed countries. It is not a perfect balance, but as they say 'perfect' is the enemy of the 'good'. There have been breakthrough negotiations in this agreement, meaningful decisions on aid for trade.\"\u003cbr/\u003e13. Lamy hands Tsang new gavel\u003cbr/\u003e14. SOUNDBITE (English): John Tsang, Chaiman of WTO summit and Hong Kong Commerce Minister:\u003cbr/\u003e\"I declare the 6th session of the ministerial Conference of the WTO closed and if you don't mind I'll try my new gavel.\"\u003cbr/\u003e15. Delegates applaud\u003cbr/\u003e16. Various of round table talks\u003cbr/\u003eBringing a binding global trade treaty one step closer, WTO negotiators approved a trade agreement in Hong Kong on Sunday that eliminates farm export subsidies by 2013 and makes modest cuts in other trade barriers, while leaving many contentious issues for later.\u003cbr/\u003eAll 149 member nations and territories of the World Trade Organisation, from tiny Sierra Leone to the 25-nation European Union, endorsed a final agreement text after six days of talks that sometimes appeared on the verge of collapse.\u003cbr/\u003eThe agreement falls far short of the ambitious deal that WTO negotiators had originally hoped for from Hong Kong: a detailed set of formulas for cutting farm and industrial tariffs and subsidies.\u003cbr/\u003eTowards that end, the text set April 30, 2006, as a new deadline to work out those details, required if the WTO is to set a global trade treaty by the end of next year.\u003cbr/\u003eThe six-day meeting opened in Hong Kong with low hopes amid an impasse over how much rich nations should open their farming markets to imports. \u003cbr/\u003eThe previous WTO gathering in Cancun, Mexico, in 2003, had collapsed - also over agricultural trade - putting the so-called Doha round of talks, launched in 2001 in Qatar, two years behind schedule.\u003cbr/\u003eThe modest progress achieved in Hong Kong, therefore, comes as relief to trade negotiators.\u003cbr/\u003e\"You put the round back on track,\" said WTO chief Pascal Lamy told delegates at the closing ceremony. \"You gave it a new sense of urgency.\"\u003cbr/\u003eDelegates managed a last-minute breakthrough on the thorny issue of farm trade subsidies, with wealthy nations agreeing to eliminate the government payments to promote exports like cotton and sugar by 2013. \u003cbr/\u003eDeveloping nations say such government farm payments to promote exports undercut the competitive advantage of poor farmers.\u003cbr/\u003eThe 2013 date was a key demand of the European Union, which faced intense pressure from Brazil and other developing nations to end agricultural export subsidies by 2010. \u003cbr/\u003eBut in a compromise, the text included a provision that a substantial part of the subsidies would go by \"the first half of the implementation period\" and a phrase that suggested that timeframe would be set later.\u003cbr/\u003eThe agreement also calls on wealthy nations to allow duty-free and quota-free privileges for at least 97 percent of products exported by the so-called least developed countries, those with per capita incomes of less than $750 US dollars a year, by 2008.\u003cbr/\u003eAlthough the agreement didn't reflect any outcome from negotiations on industrial tariff cuts, it sought to take the process forward by addressing a key concern of the poor countries. \u003cbr/\u003eIt said discussions on crafting a formula for tariff cuts must proceed in tandem with the progress in granting flexibility to poor countries in pursuing 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