UPDATE 2-UNCTAD chief says euro depreciation a natural trend

* Euro depreciation seen helpful to euro zone problems

* China stocking up on copper amid commodity speculation

* WTO agreement could provide needed trade stimulus

(Adds quote on commodities in paragraph four)

GENEVA, May 28 (BestGrowthStock) – The euro’s depreciation is no
cause for alarm, and will help solve the credit squeeze in the
euro zone, the head of the U.N. Conference on Trade and
Development (UNCTAD) said on Friday.

“I think this is a natural trend,” UNCTAD Secretary-General
Supachai Panitchpakdi told reporters in Geneva. “This is
something that will help solve the problems of the euro zone.”

The UNCTAD chief also said China was stocking up on copper
to get ahead of commodity speculators and said he expected the
price of minerals and other raw materials to remain volatile,
causing strains on both importers and exporters.

“Commodity prices are fluctuating very strongly these days.
China has been stocking a lot of commodities since last year,”
he said, adding that copper in particular was being bought and
stored in large volumes as a hedge against price shifts.

Supachai, who formerly led the World Trade Organisation,
said it was unlikely that G20 leaders would again call for a
quick completion of the Doha Round of world trade talks, given
that previous appeals for a tariff-slashing agreement had little

“This has created some kind of loss of credibility,” he
said, urging countries instead to empower their negotiators to
make the concessions needed to reach the global accord that the
WTO has been struggling to clinch since 2001.

“Eventually people will be driven back to the negotiating
table because of the fact that we need to have stimulus in
trade,” Supachai said, adding it may be necessary to “calibrate”
expectations on big emerging economies such as India for the
deal to be palatable to all.

Investing Advice
(Editing by Jason Webb/Mike Peacock)

UPDATE 2-UNCTAD chief says euro depreciation a natural trend