India calls for satisfactory conclusion of Doha round of WTO

Speaking at the Plenary session of the G20 Summit here, Prime Minister Manmohan Singh asked the leaders to "lend in their weight" to the objective of completing the negotiations.
The talks have not achieved any breakthrough since they were launched in Doha in 2001.

The Prime Minister said the global leaders must ensure Doha Development Round of multilateral trade negotiations is brought to a "satisfactory conclusion".

"We have seen a resurgence of protectionist sentiment in the world in the wake of recessionary trends...The only way to ensure that protectionism does not gain the upper hand is to restore momentum to the trade talks," Singh said.

Differences between rich and developing nations have marred the progress in the negotiations which are expected to generate an additional USD 120-200 billion to the international trade.

India and other developing nations have been defending their agricultural markets to protect millions of subsistence farmers from easy imports that may result from the multilateral agreement.

However, the US and the other developed countries are seeking more market access in the developing nations, particularly India.

Comments (+)