Trade ministers from some 30 countries have agreed to resume the Doha talks to liberalise global trade.
However the ministers' statement was short on specifics and its wording revealed that they have not really moved much closer to reaching a deal.
Pascal Lamy, director general of the World Trade Organization, said the Doha round was 'living, it will continue'.
Leaders of developed and industrialised nations had both warned that a failure of the talks would be 'catastrophic'.
The talks at the sidelines of the World Economic Forum in Davos, Switzerland, have been seen as one of the last chances to make a decisive move to revive the Doha round before the fast-track authority of US President George Bush runs out in July.
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