Failure of Cancún talks could prove a blessing in disguise, UN trade official says

The failure of the recent Cancún summit to reach a deal on trade could actually provide a good base to re-start international negotiations, the head of a United Nations trade body told a meeting this week.

Rubens Ricupero, the Secretary-General of the UN Conference on Trade and Development (UNCTAD) said the Cancún collapse was different from the previous failures of meetings of the World Trade Organization (WTO) and the General Agreement on Tariffs and Trade.

Mr. Ricupero made his remarks Tuesday at the Open Forum on Partnership in New York, which was organized by the Office of the High Representative for the Least Developed Countries, Landlocked Developing Countries and Small Island Developing States.

The forum's theme was "UNCTAD XI - Way Forward After Cancún for the Least Developed Countries," and the meeting was attended by representatives of Permanent Missions to the UN, UN organizations and non-governmental organizations (NGOs).

Mr. Ricupero said the UNCTAD XI conference, to be held in São Paulo, Brazil, in June next year, could provide a springboard to re-start negotiations and discuss issues covered at Cancún.

Anwarul K. Chowdhury, the High Representative of the Secretary-General for the Least Developed Countries, Landlocked Developing Countries and Small Island Developing States, told the meeting that the least developed countries will increasingly rely on trade to generate the resources to finance future growth and development.