India seeks freer market through Doha deal

Last Updated: Saturday, January 9, 2010 - 00:54

New Delhi: India today said it wants a freer
global trade through a Doha Accord this year to help its
exports which have been in troubled waters following the
global economic crisis.

New Delhi, Jan 7 (PTI) India today said it wants a freer
global trade through a Doha Accord this year to help its
exports which have been in troubled waters following the
global economic crisis.
"We hope in 2010, we will see a successful conclusion of
the Doha Round talks. India and other developing countries
have most to gain and lose with success or failure of these
trade talks," Sharma said addressing the Parvasi Bharatiya
Divas meeting underway in the Capital today.

While exports returned back to the positive territory, a
more open global market through a multilateral agreement under
the aegis of the World Trade Organisation would be in the
country`s interest, Commerce and Industry Minister Anand
Sharma said here today.

The country`s exports clipped at 18.2 per cent in
November for the first time after began contraction in
October 2008.

It can be noted that Sharma had "re-energised" the
eight-year old WTO negotiations by hosting a meeting of key
trade ministers in September.

Officials have resumed discussions in Geneva since then,
trying to narrow differences. While the developed countries
want liberal markets in the developing world, they are not
ready to bring down their large farm subsidies.

With their exports hit by the global recession and
protectionist measures in several Western markets, Sharma said
the developing and poor countries have more stake in reaching
a multilateral trade agreement than others.

Sharma said the historic distortions to the global trade
regime must be removed in the new accord which has mandate to
ensure development of the developing and poor countries
through trade.

PTI



First Published: Saturday, January 9, 2010 - 00:54
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