Australian farmers stand to lose billions of dollars after World Trade Organisation (WTO) talks
collapsed threatening to begin new bilateral trade deals.

Sugar, diary and beef farmers will be the biggest victims, losing almost $1.5 billion a year,
after six key nations, including Australia, disagreed on how to reduce protection for
agricultural and industrial goods.

The end of the Doha round of trade reform has prompted calls from the business community
for Australia to embark on new bilateral free trade deals, a move that could set back
global talks even further.

The G6; Australia, the US, the European Union, Japan, Brazil and India; could not reach
agreement during the intense meeting in Geneva trying to advance the five year old
round of trade talks.

World Trade Organisation (WTO) director general suspended the talks indefinitely.
Analysts believe that negotiations may not resume until after the 2008 US
presidential elections.

Developing countries had been hoping for huge cuts in farm tariffs and subsidies in the talks,
but met strong resistance from the US and Europe.

The trade policy manager for the National Farmers Federation, said the entire Australian
economy had been tipped to get a $7 billion annual benefit if the trade round
had been successful.