New Delhi
The new draft texts on agriculture and industrial goods form the
basis to push forward the stalled global trade talks, India's
Commerce and Industry Minister Kamal Nath said Saturday.
"Both new texts produced by the chairmen of the committees of
agriculture and industrial goods form the basis of some
negotiations," Kamal Nath said while addressing the 80th annual
general meeting of the Federation of Indian Chambers of Commerce and
Industry (FICCI) here.
The global trade talks, started under the aegis of the World Trade
Organisation (WTO), are on hold since July 2006 largely over issues
concerning agricultural subsidies and tariffs on industrial goods.
"India needs to occupy the space in the new architectural set-up.
Otherwise, we will never have the space for ourselves. So, we need
to see that global rules for trade are fair," Kamal Nath said.
"In WTO, we need to look at agriculture. Subsidies distort prices;
we will have to fight subsidies. Our interest is only free and fair
trade," he added.
The draft texts were circulated last week so as to nudge forward the
round, which was stalled in the Qatari capital Doha.
Welcoming the texts early this week, the minister had said:
"Significant and effective reduction of trade distorting subsidies
of the developed countries is an issue on which there can be no
compromise because they impact adversely upon the livelihood of
millions of our poor farmers.
"Indian agriculture cannot be expected to carry the burden and most
definitely not in a development round."
However, he did raise a note of caution and said that a lot of work
needs to be done and greater flexibility needs to shown by the
developed countries.
India and developing countries are asking the rich nations such as
the US and EU to reduce their farm subsidies and throw open their
agricultural markets by significantly cutting tariffs.
On the other hand, these developed countries want the developing
countries to drastically reduce tariffs on their industrial produce
and service liberalisation.
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