Countries close to tariff cut deal

Countries close to tariff cut deal

Geneva: Twenty-two developing countries are close to an agreement on cutting tariffs that could be signed when ministers from 153-member states of the World Trade Organization gather here for a meeting next week, diplomats said on Thursday.

Negotiators from countries including Argentina, Brazil, India, Indonesia, Egypt and South Korea on Wednesday “agreed on a document to be submitted to the ministers for approval," said a diplomat.

The agreement would only affect trade among the 22 and is not connected to the broader Doha round of negotiations that aim for a global reduction in trade barriers.

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