With its April 30 deadline looking increasingly fragile in terms of a partial deal, the Doha round of negotiations in the World Trade Organisation is edging towards a precipice. High ambitions remain but the risk of running out of time is serious. Governments and the European Commission should be in no doubt that European business is extremely concerned at not only the prospect, but also the consequences, of failure.

Although some progress was registered during the WTO’s ministerial meeting in Hong Kong last December, nothing has happened since to strengthen confidence that the framework for a final package of tariff and farm subsidy cuts can be agreed by the self-imposed deadline. If there is no breakthrough then the likelihood of a final deal being concluded in early 2007 – to stay within the timeframe imposed by the expiry of US trade negotiating authority – will be remote.