Trade Minister Kim Jong-hoon has stressed the need to reach an agreement on the Doha Development Agenda by the end of next year.

Kim made the call on Tuesday in a speech delivered to the seventh World Trade Organization (WTO) Ministerial Conference in Geneva, Switzerland.

He said the successful settlement of the Doha Development Agenda, which is another name for the current round of WTO negotiations focused on the lifting of trade barriers around the world, has become more crucial in the wake of the global financial crisis. He urged the WTO’s 153 members to step up efforts for the successful conclusion of the trade negotiations.

In particular, Kim emphasized that agreements on agriculture and market access for nonagricultural goods need to be concluded early next year.