WASHINGTON–Resumption of the Doha Development Round of World Trade Organization talks is welcome news to the American Insurance Association.
In a statement, the group called the development a “positive” because the industry hopes to further open global insurance markets through service industry negotiations.
Talks in the Doha Round have effectively been suspended since last July, after talks over agricultural issues reached an impasse.
“This stymied the progress being made on service industry talks, including insurance,” said David Snyder, AIA vice president and assistant general counsel.
“Resumption of the talks is the most positive development in months, and now we must push it through to conclusion,” he said.
Mr. Snyder said the current round of world trade talks “offers great opportunities not only for the industries, but also for developing countries that need services, and specifically insurance.”
He explained, “More open markets for U.S. services suppliers are good for the U.S. economy.”
Mr. Snyder praised the efforts of the Office of the United States Trade Representative “for their advocacy and insistence that any successful Round must include major and commercially meaningful progress in services, including insurance.”
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