No reciprocity by rich nations in WTO: India

No reciprocity by rich nations in WTO: India

Davos, January 28
 

A day before the informal meeting here of the WTO, India, China and South Africa today said the developing countries are being asked to further open their markets without any reciprocity from the rich nations, as per the draft proposals for a multilateral agreement.

Ministers in-charge of trade from India, China and South Africa met on the sidelines of the annual World Economic Forum (WEF) meeting.

India’s Commerce and Industry Minister Anand Sharma said that he and his counterparts from China and South Africa noted that under the draft proposals, the developing nations would be required to offer unprecedented level of contributions.

"Such contributions are not being reciprocated by developed countries, some of whom still seek further exceptions and flexibilities to continue with their existing trade barriers and trade distorting policies, adversely affecting the developing countries’ interests," said a communique issued after today’s meeting.

They said any effort to finalise the Doha Round cannot ignore the past trade-offs, nor require new disproportionate and unilateral concession from the developing countries.

"The ministers cautioned against demands that clearly change the nature and scope of negotiations, jeopardising the present efforts to conclude the Doha Development Round," the communique said.

Key trade ministers, including from India, China, South Africa, US and European Union will hold an informal meeting tomorrow, being hosted by Switzerland. WTO Director General Pascal Lamy will also be present.

The ministers would discuss the progress of the stalled talks. In November, G-20 leaders pressed on concluding the world trade talks this year.

Doha round of talks under the aegis of the World Trade Organisation (WTO) started in the Qatari capital in 2001 for achieving a global trade deal, but a breakthrough has not been reached upon yet.

Differences between rich and developing nations have been a stumbling block. India and other developing nations have been defending their agricultural market to protect millions of subsistence farmers from easy imports that may result from the multilateral agreement.

The US and the other developed countries, however, seek more market access in developing nations, including India.

As per the WTO estimate, successful conclusion of Doha talks could boost the global trade by up to $ 200 billion within a year. — PTI