EU's Mandelson "very hopeful" of WTO deal

GENEVA (Reuters) - European Union trade chief Peter Mandelson said on Friday he was "very hopeful" that a breakthrough deal could now be done in world trade talks and said it would give the global economy a boost.

"What's on the table is not perfect, it's not beautiful but it's finally put together what will be a genuine boost for the world economy and particularly good for developing countries," Mandelson said after a make-or-break meeting of trade ministers.

Indian Commerce Minister Kamal Nath sounded more cautious, saying: "There are certain areas of concern, there are certain areas of consensus."

Ministers from around 30 WTO member countries met to discuss new compromise proposals drawn up by WTO chief Pascal Lamy to rescue the Doha round of negotiations, launched in 2001. Without a breakthrough, there could be years more of delay.

"There is an emerging deal but not a done deal," Mandelson said, adding the reactions of almost all countries at Friday's meeting was positive.

He was due to present the proposals to EU member states on Saturday. France, currently president of the bloc, and other countries have previously expressed concern about European farming concessions needed to get a WTO agreement.

"I know it will be difficult to swallow for some and a difficult sell for others," Mandelson said.

(Reporting by William Schomberg and Doug Palmer; editing by Andrew Roche)