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India
has indicated to
the WTO its readiness for another go at reaching a world trade
agreement provided the flaws in multilateral rules are effectively
addressed and removed.
"If
the basis of the
round [Doha negotiations initiated seven years ago] has to see a
change in its very objectives, it would be a tough going for global
trade integration," Commerce Minister Kamal Nath said while sharing
the dais with WTO head Pascal Lamy at a CUTS-FICCI organised
conference on global development goals.
Responding
to Lamy's
remarks, Nath unequivocally declared that "revival of the weakest"
and "not survival of the fittest" should form the core of the
negotiations for reaching an agreement.
Otherwise,
he warned that
the renewed attempt being made by Lamy and others to bring the talks
back on track could meet the fate of the recently abandoned talks in
Geneva. While India, he said, was keen on resumption of multilateral
negotiations, "it cannot be expected to accept the flaws - the
price developing countries are being asked to pay for developed
countries to cut subsidies," he said.
Later,
Lamy met Prime
Minister Manmohan Singh. He is understood to have sought a clear
indication whether India wanted to move ahead in the troubled Doha
negotiations or take a pause.
The
meeting was
significant as Lamy has renewed efforts to bridge differences, mainly
on the issue of the Special Safeguard Mechanism, between India and
the US following the failure of the Geneva talks a fortnight ago.
"My
simple message here
in Delhi and next week in Washington is that (members should) look
carefully at what is on the table and not on results, listen to all
WTO members and efforts should be to conclude the talks," Lamy
said. After getting the feedback from New Delhi based on
consultations with Singh and Nath, industry and the NGOs, Lamy will
visit Washington next week.
Lamy
said after his
meetings with the two leaders: "The good news is there may be still
a possibility to move this forward and conclude negotiations within
the time-frame, that is end-2008."
Speaking
at the
CUTS-FICCI meet, Lamy had observed that if the WTO could not reach a
deal, the US agricultural trade distorting subsidies could see a
sharp jump to over $48 billion a year from a ceiling of $14.5
billion, which the Bush administration had offered at the Geneva
Mini-Ministerial Meeting. If the Round was not to conclude, "the US
will be able to spend much more (on subsidies)," Lamy said.
The
WTO chief, who is
India to seek India's help for reviving the negotiations, said the
success of the Doha Round could result in worldwide duty cuts of $150
billion a year. (Source: The Hindu)
August 13, 2008
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