Ministers of World Trade Organisation (WTO) member-countries are likely to meet by the end of next month in Geneva to seek solutions and help conclude the global trade talks, a senior WTO official said here Monday.

“A ministerial meet can be expected by the later part of May,” said Deputy Director General Harsha Vardhan Singh, here at an event organised by the Confederation of Indian Industry (CII).

Political level

“There appears to be a good chance of reaching some kind of a conclusion at the political level and the momentum is positive. However, the process of negotiation takes time. They require clarity at all levels and people need to see that achieve the objectives,” Mr Singh added.

The 151 member-countries of WTO launched a new round of negotiations in Doha in Qatar in 2001 to agree upon a multilateral rule-based trading system that seeks to reduce agricultural subsidies and trade barriers.

Since then, talks have failed to reach an agreement as India and other developing countries demand that rich nations such as the US and EU states reduce their farm subsidies and throw open their agricultural markets by significantly cutting tariffs.

On other side, developed countries want developing countries to drastically reduce tariffs on their industrial produce and service liberalisation.

Union Commerce and  Industry Minister Kamal Nath is expected to meet the United State’s  trade representative Susan Schwab on May 8.