Just now Mr. Lamy has reported on the status of the G7 (US, EU, Japan, China, India and Brazil) negotiations on SSM （agricultural Special Safeguard Mechanism for developing members）. Due to the inability of two countries to bridge the gap between their positions on special safeguard triggering levels, the Round finally failed. We, along with the other participating countries, feel very disappointed and regrettable. There may not have been such an occasion in this world before where so many ministers gathered together, working for so long for the multilateral trading system. At the Green Room and G7 meetings, China has fully demonstrated flexibilities and constructiveness, and sincerely hoped to reach a successful Doha through working together with other members. However, the attempts failed in Geneva.

　　With hope we came here. We have made major compromises and concessions on issues such as OTDS (overall trade-distorting domestic support) reduction for developed members, sensitive products, SSG (Special Safeguard) and ACC (anti-concentration clause). At the Signaling Conference for Services, we indicated our further market openings in some key sectors. However, just as we were approaching the final point, some minor coefficients failed all our efforts. Here I do not want to blame the ministers concerned. They may have profound and complex domestic factors behind them. Yet I cannot but express my deep regret.

　　This is a tragic failure. It is going to become a marker in the history of world trade and economy. Mr. Lamy, the Agriculture and NAMA Chairs and the ministers who have contributed to the process shall all be proud of their useful attempts. This is also serious setback. Particularly in face of world economic downturn, serious inflation and imminent financial risks, the failure will have a major impact on the fragile multilateral trading system. To respond to this we need to get ourselves fully prepared.

　　History has to move on. I hope what has been achieved during this meeting could be preserved as a piece of precious legacy, which can be used a lesson for future attempts of the multilateral trading system. I also hope all WTO members could reflect upon the failure and learn a lesson from it so that the quality and efficiency of future negotiations could be improved.

　　Economic development has to continue. On the basis of equality and reciprocity, China is ready to further intensify the bilateral trade and economic cooperation with the members present here, and enhance in particular the mutually-beneficial cooperation with developing countries, including the LDCs (least developed countries) and SVEs (small and vulnerable economies), and to jointly promote further prosperity of the world.