<p>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.<br /><br /></p>.<p>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.<br /><br />“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.<br /><br />He said India is of the view that the negotiations have to be taken to early conclusion.<br /><br />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.”<br /><br />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”.<br /><br />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.<br /><br />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. <br /><br />“Post-January last, the US has not been actively engaging (in the talks), so there is a delay in the process,” he said.<br /><br />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. <br /><br />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.</p>
<p>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.<br /><br /></p>.<p>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.<br /><br />“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.<br /><br />He said India is of the view that the negotiations have to be taken to early conclusion.<br /><br />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.”<br /><br />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”.<br /><br />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.<br /><br />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. <br /><br />“Post-January last, the US has not been actively engaging (in the talks), so there is a delay in the process,” he said.<br /><br />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. <br /><br />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.</p>