Amid protests all over the globe and guarded by army troops in response to heightened terrorism fears, delegates from the 142-member World Trade Organisation met in Doha, Qatar to overcome policy differences to decide on what should and should not be included in a new round. The five-day meet begun on November 9. HIGHLIGHTS OF THE MEET

India made major gains

COMMERCIAL BREAK
SCROLL TO CONTINUE READING

India "succeeded in warding off any commitments for negotiations in the important areas of investment, competition policy and transparency in government procurement," the government said in a statement in New Delhi.
The agreement came after India settled for a statement acknowledging its reservations about opening talks on investment rules, competition policy and other issues it feared could put poor countries at a disadvantage. The statement said that the final declaration by the WTO to liberalise global commerce reached after six days of haggling "took on board" India's concerns.
The more than 140-member WTO functions by consensus and the formula agreed upon was designed to accommodate India's reservations about the pact without scuttling a deal widely seen as providing a needed boost to an ailing global economy.
India won 5 cases

India has won five of the 13 disputes raised by it against various countries, including the US, in the dispute settlement body of WTO.
Commerce and Industry Minister Murasoli Maran told Lok Sabha in a written reply that of the five cases won, three were against the US and one each against Turkey and EC. While two cases one each against Poland and EC have been settled, the procedure was still continuing in four cases, he said.
Among the 13 disputes raised against India by various countries, New Delhi has lost three cases -- two against the US and one against EC.
The WTO declaration tit-bits
Following are the highlights of the 10-page WTO ministerial declaration paving the way for a development round of negotiations:

Agriculture: Cuts in tariffs, reduction of export subsidies with a view to phasing out substantial reductions in trade-distorting domestic subsidies.
Services: Increasing access for banking, insurance and other companies and increasing opportunities for people to work in other countries.
Non-agricultural goods: Reducing and eliminating tariffs and other barriers, particularly on products that are important to developing countries. WTO rules: Subsidies for goods like steel and textiles and when anti-duties could be imposed on them. Improvements to the system for settling disputes.
Environment: The relationship between WTO rules and international environmental treaties, reducing or eliminating tariffs on environmental goods and services, fisheries subsidies.
Establishing a system of registration and protection for wines and spirits known by the region where they are made like campaign. Extension of this geographical indications to other items like basmati to be looked into.
Singapore issues: Investment, competition policy, transparency in government procurement and trade facilitation could be subject of negotiations in two years, if all governments arrive at a consensus.