Hopes of reaching world trade deal revive at WTO

By Jonathan Lynn and Doug Palmer

GENEVA (Reuters) - Ministers hailed an emerging trade deal on Friday, as compromise proposals revitalised deadlocked talks at the World Trade Organisation (WTO).

But they warned that much work was still needed to get full agreement on the delicately crafted proposal.

"What's on the table is not perfect, it's not beautiful but it's finally put together what will be a genuine boost for the world economy and particularly good for developing countries," European Union trade chief Peter Mandelson said.

"There is an emerging deal but not a done deal," Mandelson said after a make-or-break meeting of ministers.

Indian Commerce Minister Kamal Nath, whose tough stance earlier in the week was blamed by many colleagues for the deadlock, sounded more cautious, saying: "There are certain areas of concern, there are certain areas of consensus."

U.S. Trade Representative Susan Schwab said ministers had reached tentative agreement on the way forward, but added:

"I think the biggest concern that we have is that a handful of large emerging markets really threaten this round for the rest of us."

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