UN Chair Sees Biofuels As Solution To Global Trade Rounds
Ted Turner, the well-known US business magnate has announced that a concentration on biofuels will possibly remove the barricade that postpones the global trade talks. In a World Trade Organization (WTO) summit, Turner said that the humongous demand for biological fuels can assist farmers and minimize their demand for government support. He also said that the agricultural tariffs and subsidies, which were the main arguments in the faltered global trade meeting, can be compensated by the aid for biofuels.
It must be noted that the controversial Doha round of global trade talks started in the year 2001 with the goal of motivating the international economy by reducing trade hindrances, and with a concentration on aiding developing nations in boosting their own exports. But on the contrary, the so-called WTO talks came to an abeyance on July, mainly over the hesitance of rich nations specifically Japan, United States, and some of the European Union members in providing bigger cuts in their appropriations given to farmers, and in giving an easier entrance to their farm markets for exports.
In the said speech made by Turner, he emphasized that the farmers have been growing plants for fiber and food. But as the international demand for biological fuels is incessantly increasing, the farmer's today should be focusing on cultivating plants for fiber, food, and most especially the biofuels. He also added that he has full confidence that in years to come, the compensations of farmers would not only be determined by farm tariffs and appropriations, but also by global trade forces.
Turner took part in the said WTO meeting, which hopes for the possible relaunch of the global trade rounds, as his responsibility as the United Nations Foundation chairman. It can be reckoned that the UN was established in 1998 right after Turner provided a financial support amounting to $1B to help fund the causes and events of the said organization.
Among many organizations, UN Foundation is advocating for the propagation and usage of biological fuels in developing nations and other member countries that were involved in the global trade rounds. The said foundation is also active in inviting local and foreign financing in the vicinity.
Turner said that by contributing to the agriculture-based fuels, member nations of the said global trade conferences as well as other progressive countries can create their very own local fuels for transportation, reduce their energy bills, enhance national health, and best of all, develop more work opportunities for both the rural and urban economy. Aside from the mentioned advantages of investing in the said fuel industry, Turner added that it can help create a genuine multilateral export trades.
Biofuels are referred to as the biodegradable sources of energy that comes from farm products, mainly plants and trees, or the by-products of agriculture like animal manure, soy beans, palm oil, and cane sugar. With regard to the need for biofuels, the EU, an active member of the global trade series of talks, issued an appeal for the said energy sources to complement almost 6 percent of the union's fuel requirements by 2010. However despite the positive speech given by Turner about the fuels, some global trade analysts warned that the abundance of biological fuels can also have its share of downsides.
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