US and European Union mounted pressure on India to agree to a new round of trade negotiations as the fourth WTO ministerial meeting got underway here on Friday, but New Delhi, armed with the support of some Asian and African countries including Pakistan, is determined to stall the developed countries' effort. We are under tremendous pressure from US and European Union who have galvanized themselves after the September 11 terrorist attacks, but we have decided not to budge as inclusion of issues like investment and competition will be detrimental to domestic industry, A senior Indian official said. Meanwhile, Commerce Minister Murasoli Maran held several bilateral meetings with countries that included Malaysia, Pakistan, Zimbabwe and Cuba on Friday night. These countries are by and large supportive of India's stand to oppose bringing extraneous issues like investment, competition and environment into the negotiating agenda.
Pakistani Commerce Minister Razak Dowood, who is responsible for the 'like-minded group initiative', has agreed to go along with India in opposing introducing trade and investment. But Islamabad owing to compulsions of its difficult economic situation might give in on certain other issues as a trade-off to get more aid from IMF and world bank. US and EU do not want a repeat of Seattle debacle and are keen to somehow mobilize support for a new round, particularly because any failure post-September 11 would send wrong signals about the globalization. US, though not keen to press on investment, might go along with EU to make it agree to cut subsidies on agriculture. Bureau Report