Press Esc to close
Tuesday 21 October 2014
News updated at 3:39 PM IST
Weather
Max: 0°C
Min : 0°C
In Bangalore
Sunny day

India for revitalising Doha trade talks

New Delhi, Nov 22, 2012, PTI :

Regretting the long delay in conclusion of the Doha Round of WTO talks, India has pressed for revitalising the “stalled” negotiations, saying it is necessary to revive the global economy.

Attributing part of the delay to the inactiveness of the US since last January, India hopes that with the Presidential elections there over, it will “re-engage” in the talks.

“Doha round has been the longest round of negotiations in the history,” Commerce and Industry Minister Anand Sharma said, referring to the talks that have been going on for about a decade.


He said India is of the view that the negotiations have to be taken to early conclusion.

Asserting India’s commitment to take the process forward, he said “we need to revitalise the stalled Doha round of WTO talks and put in place a rule-based multilateral regime so that global economy can be revived.”

Talking about the necessity to conclude the Doha Round, he underlined that “protectionism will cause further damage” to global economy, “deepen recession and delay recovery”.

Sharma, who was talking to reporters on board the Prime Minister’s special aircraft while returning from Cambodia last night, hoped the “US will re-engage in the WTO talks” now that Presidential polls in that country as also change of guard in China are over.

There has been no forward movement in the Doha round of talks for the last several years. The mini-ministerial meeting held in Geneva in July, 2008, had been a major setback for the trade negotiations which have remained moribund since then.

“Post-January last, the US has not been actively engaging (in the talks), so there is a delay in the process,” he said.

Sharma, who had met representatives of international financial and banking institutions in Cambodia on Wednesday, said there needs to be an acknowledgement that Asia has a major role to play in the recovery of the global economy and the region must be adequately represented in world bodies.

In this context, he underscored the need for restructuring global financial and banking institutions like the IMF and the World Bank to make them reflect the contemporary global realities.

Go to Top

Photo Gallery
Army recruits during their attestation parade at Madras Regimental Centre, Wellington, Ooty on...

Army recruits during their attestation parade at Madras Regimental Centre, Wellington, Ooty on...

In this Wednesday, Oct. 15, 2014 photo, a Kashmiri woman blocks a road during a protest demanding...

In this Wednesday, Oct. 15, 2014 photo, a Kashmiri woman blocks a road during a protest demanding...

Prime Minister Narendra Modi at the 42nd Convocation of the All India Institute of Medical...

Prime Minister Narendra Modi at the 42nd Convocation of the All India Institute of Medical...

Devendra Fadnavis hugs his mother Savita after his victory during the Assembly election in...

Devendra Fadnavis hugs his mother Savita after his victory during the Assembly election in...

Union Minister of State for Commerce and Industry, Nirmala Sitaraman launching the Online Export...

Union Minister of State for Commerce and Industry, Nirmala Sitaraman launching the Online Export...

Prime Minister Narendra Modi with BJP President Amit Shah after the party's parliamentary...

Prime Minister Narendra Modi with BJP President Amit Shah after the party's parliamentary...

In this Oct. 17, 2014 photo, a thick blanket of smoke is seen against the setting sun as...

In this Oct. 17, 2014 photo, a thick blanket of smoke is seen against the setting sun as...

In this Monday, Oct. 13, 2014 photo, an Indian woman uses her hand to put sawdust in an...

In this Monday, Oct. 13, 2014 photo, an Indian woman uses her hand to put sawdust in an...

(L-R) Asha Bhat, Miss Diva Universe 2014 2nd runner up, Noyonita Lodh, Miss Diva Universe 2014...

(L-R) Asha Bhat, Miss Diva Universe 2014 2nd runner up, Noyonita Lodh, Miss Diva Universe 2014...

An Indian man teaches yoga postures to schoolchildren at Delhi Public School in Hyderabad...

An Indian man teaches yoga postures to schoolchildren at Delhi Public School in Hyderabad...

Copyright 2014, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bangalore - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523