COSATU Press statement on NAMA ? issued from Hong Kong

As the talks at the WTO continue, the Southern African region, Africa and other developing countries and regions face an ever increasing threat to catastrophic jobs and even the very real potential of de-industrialisation. The developed countries are putting developing countries under enormous pressure to accept formula cuts on tariffs.

They are proposing a formula that, when applied, would cut tariffs across the board. The formula that is pushed very hard is the swiss formula