The European Union is contradicting world trade rules by putting the interests of big drug companies before the 2 billion people in the world who cannot access essential medicines, according to a new report issued today by Oxfam International and Health Action International Europe.
The United States today has lost a battle in its dispute over cotton subsidies with Brazil at the World Trade Organization (WTO), said international organization Oxfam.
World trade rules will not be reformed in the interests of poor countries despite this month’s G8+5’s commitment to finalize the stagnant Doha trade talks by 2010.
The reported breakdown of world trade talks was caused by rich countries offering too little and making unreasonable demands in return.
As negotiations continued at the WTO in Geneva, international agency Oxfam said that developing countries must not be blamed for delay or possible breakdown of the talks.
The deal emerging in WTO talks has some serious flaws and falls far short of the pro-development reform that was originally promised, said international agency Oxfam today.
Trade reform that puts poor countries first is desperately needed in the face of rising food and fuel prices and global economic insecurity. But current offers at the WTO would make the situation worse and undermine development.