DOHA, Qatar (Reuters) - Trade ministers from more than 140 countries agreed Wednesday to launch a new series of talks to liberalize global commerce, aiming to lift millions from poverty and boost the world's tottering economy.After six days of haggling at a World Trade Organization (WTO) meeting in the Gulf state of Qatar, ministers said ``broad and balanced'' negotiations would begin next year on cutting farm subsidies and industrial tariffs and tackling a host of other barriers to trade.
The hard-fought success will breathe new life into the WTO, battered by a disastrous failure to reach a similar agreement in Seattle two years ago.
It will also provide a psychological boost to the global economy at a time when many countries are teetering on the brink of recession in the aftermath of the attacks on the United States on September 11.
``This is a huge success for the international community,'' British Prime Minister Tony Blair said in a statement in London.
``The countries of the world, rich and poor, have ironed out their differences to launch a trade round that will make all of us more prosperous,'' he said.
The White House also welcomed the agreement from Crawford, Texas, while its chief negotiator at the Doha talks said ``a powerful signal'' had been given to the world.
``We have removed the stain of Seattle,'' U.S. Trade Representative Robert Zoellick said. ``By agreeing to launch new global trade negotiations, we are helping to deliver growth, development and prosperity throughout the world.''
Previous trade rounds, with broad agendas aimed at distributing the benefits of liberalization fairly between members, have been credited with driving the world's economic motor for nearly half a century.
The World Bank has calculated that launching a new cycle of market-opening talks, coupled with related reforms, could add a whopping 2.8 trillion to global income by 2015, a decade after the round is expected to end.