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LAMY CONFIDENT ABOUT RESUMPTION OF TRADE TALKS
  
BRUSSELS, Belgium - European Union Trade Commissioner Pascal Lamy has dismissed the recent pessimism about global trade liberalization talks, insisting that negotiations could be concluded by the end of the year.

"I remain on the side of those who believe that this is not impossible," Lamy told reporters after a recent meeting Canadian Trade Minister Jim Peterson. The Canadian minister responded with an "Amen."

Lamy said the 15-nation EU "is in a real hurry" to get the trade talks restarted after the trade ministers' last meeting in Cancun, Mexico, which collapsed amid clashes over farm subsidies and setting rules on investment.
 
World Trade Organization members launched their current trade talks in Doha, Qatar, in 2001, with a deadline of the end of 2004. The trade round could boost international trade and the global economy by cutting import duties and other trade barriers. But the talks have been bogged down as a result of rich countries resisting calls to open their borders to the farm products of less developed nations.
 
Many trade ministers are skeptical the talks can be concluded by the end-2004 deadline. At the recent World Economic Forum meeting in Davos, Swiss President Joseph Deiss, who chaired a meeting of trade ministers and officials from 19 countries, said he thought it was impossible.

"It isn't a question of being negative, it's a question of being realistic," Deiss said. "The negotiations haven't started yet. I think there's too much to be done in order to get through."
Hong Kong, which has offered to host the WTO's year-end meeting, said it must know by mid-February whether to prepare the gathering of 146 governments.

ARGENTINA'S TRADE SURPLUS NARROWS

BUENOS AIRES, Argentina - Argentina's trade surplus narrowed to $15.54 billion in 2003, compared to $16.72 billion the year before, as consumers continue to buy more imports amid an economic rebound.

Imports grew 54% in 2003, the Economy Ministry said as Argentina's economy bounced back from a devastating crisis and devaluation during 2002.

Imports of capital goods like computers, telephones and farm equipment grew 93% during the year. Economists say most companies are still experiencing a backlog on technology since the extreme length of Argentina's depression - from 1998 to 2002 - delayed such purchases for several years.
The economy ministry said imports were led by autos, auto parts, and chemical products.

Exports grew 14%, thanks mainly to Argentina's booming agricultural sector. Prices for commodities like soy are sold at dollar-indexed prices to international markets, bolstering profits for farmers in local pesos.

Soy-related goods - including beans, oils and pellets - grew 42% in 2003 and now account for 24% of all Argentine exports.

However, exports of industrial manufactured goods only increased 1% during 2003. Manufacturers blame a lack of credit for their inability to fully seize on Argentina's competitiveness following the steep devaluation in January, 2002.

In December, the trade surplus totaled $880 million compared to a $1.207 billion surplus in December 2002.

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