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Commerce Minister Kamal Nath has described the failed global trade talks at Geneva as a "serious setback to the developing nations" and blamed the US for undermining the issue of livelihood security. He, however, said India was ready to go back to the discussion table, but without compromising farmers' interests.
After returning to New Delhi from Geneva after long negotiations, Nath said India and other developing nations were willing to show flexibility, but the developed nations failed to acknowledge the sensitivities of developing countries.
Stating that the primary objective of the mini-ministerial talks of WTO, aimed at completing the stalled Doha Development Round negotiations, was to put the development dimension of international trade on centrestage, Nath said: "The talks broke down after the US refused to agree to proposals from India and China that they should be allowed to impose extra 25% duties, if imports are up 15% on farm products. But the US wanted that the trigger for extra duty should be given only after imports surge by 40% over the average of the preceding three years. By the time we have a 40% surge in imports, our farmers would have committed suicide."
He was also hopeful that the talks would resume. "I am hopeful that the process will restart again," Nath said. "India stands ready whenever the process resumes." On when the talks could resume, he said: "In the next two-three months." Commerce secretary Gopal Pillai later said he doubted much could be done before US presidential polls in November and it was more likely talks would restart around the middle of next year. (Source: The Hindu, Live Mint)
August 1, 2008
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