India asks rich nations to cut subsidies, help poor countries
India on Thursday asked rich nations to cut farm subsidies and help poor countries in taking advantage of the global trading system to ensure a balanced outcome of World Trade Organisation's Doha Round negotiations.
By PTI |
KAMPALA: India on Thursday asked rich nations to cut farm subsidies and help poor countries in taking advantage of the global trading system to ensure a balanced outcome of World Trade Organisation's Doha Round negotiations.
"Agriculture remains at the core of the Doha Development Round negotiations. Significant corrections need to be made for substantial reduction in the trade distortions caused by agricultural subsidies," External Affairs Minister Pranab Mukherjee said while making an intervention in a debate on international trade at Commonwealth Foreign Ministers meeting.
He said a balanced outcome of the current round of WTO negotiations, taking into account the needs of developing countries, was very important.
The Doha Round of talks, launched in the Qatari capital in 2001, has missed several deadlines as rich nations such as the US and developing countries led by India and Brazil have not been able to reach a deal on key issues, mainly on cutting farm subsidies and reducing tariffs for industrial goods.
Mukherjee asserted it was important to ensure that this Round delivered on development and helps developing countries to integrate into the world trading system. Many developing countries also need help in building up their capacity to make use of multilateral trade liberalisation.
"The mandate for development enshrined in the Doha round necessarily requires that special attention be paid to the least developed countries and the small and vulnerable economies. They are faced with several handicaps which significantly detract from their ability to trade and to integrate with the global economy," he said.
"Agriculture remains at the core of the Doha Development Round negotiations. Significant corrections need to be made for substantial reduction in the trade distortions caused by agricultural subsidies," External Affairs Minister Pranab Mukherjee said while making an intervention in a debate on international trade at Commonwealth Foreign Ministers meeting.
He said a balanced outcome of the current round of WTO negotiations, taking into account the needs of developing countries, was very important.
The Doha Round of talks, launched in the Qatari capital in 2001, has missed several deadlines as rich nations such as the US and developing countries led by India and Brazil have not been able to reach a deal on key issues, mainly on cutting farm subsidies and reducing tariffs for industrial goods.
Mukherjee asserted it was important to ensure that this Round delivered on development and helps developing countries to integrate into the world trading system. Many developing countries also need help in building up their capacity to make use of multilateral trade liberalisation.
"The mandate for development enshrined in the Doha round necessarily requires that special attention be paid to the least developed countries and the small and vulnerable economies. They are faced with several handicaps which significantly detract from their ability to trade and to integrate with the global economy," he said.
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