Interview: President of World Bank

Interview: President of World Bank

Mar. 17 – World Bank President Robert Zoellick says whoever wins the U.S. presidency would probably back a global trade pact if a deal can be reached this year.

Zoellick said in an interview that once in the White House, the winner of November’s election would find it hard to block an agreement, should tortuous negotiations at the World Trade Organisation succeed by then.

Zoellick, who helped launched the World Trade Organisation’s Doha round in 2001 as the top U.S. trade official, recalled how in 1992 former president George Bush concluded talks for the North American Free Trade Agreement with Mexico and Canada and passed it to his successor, Bill Clinton, for signing.

As part of a WTO deal, the United States, Europe and other rich countries would cut back on farm subsidies and import tariffs for agricultural goods and developing countries would bring down tariffs on goods such as cars or chemicals in return.