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Pro-developed countries WTO draft released, India unhappy
Cancun, Sept 14: After nearly four days of hectic consultations among 148 trade ministers, the World Trade Organisation issued a 15-page draft resolution heavily loaded in favour of the US and European Union on the contentious agriculture and Singapore issues and India immediately expressed unhappiness over it.
Cancun, Sept 14: After nearly four days of hectic consultations among 148 trade ministers, the World Trade Organisation issued a 15-page draft resolution heavily loaded in favour of the US and European Union on the contentious agriculture and Singapore issues and India immediately expressed unhappiness over it.
The draft, prepared by the chairman of the WTO ministerial, Mexican Foreign Minister Louis Ernesto Derbez, and released late yesterday, provides very little for developing countries on agriculture excepting forcing member countries to cut farm subsidies, which are very high in the industrialised nations.
However, it does not go as far as many developing nations have demanded in this regard and some in their first reaction have called it 'unacceptable'.
In his initial reaction, Commerce Minister Arun Jaitley said, "India is very unhappy as it disregards our concerns".
The G-22 group of developing countries, led by India, Brazil and China, asked for the elimination of all subsidies for goods being exported and major cuts in subsidies for domestic farm products. But the proposal appears to fall far short of what these countries demanded.
Moreover, the document does not set a date for the elimination of export subsidies, which the developing countries have been pressing for. It also offers smaller reductions than the developing countries demanded of the domestic payments.
Bureau Report
However, it does not go as far as many developing nations have demanded in this regard and some in their first reaction have called it 'unacceptable'.
In his initial reaction, Commerce Minister Arun Jaitley said, "India is very unhappy as it disregards our concerns".
The G-22 group of developing countries, led by India, Brazil and China, asked for the elimination of all subsidies for goods being exported and major cuts in subsidies for domestic farm products. But the proposal appears to fall far short of what these countries demanded.
Moreover, the document does not set a date for the elimination of export subsidies, which the developing countries have been pressing for. It also offers smaller reductions than the developing countries demanded of the domestic payments.
Bureau Report