WTO: ‘Developed countries lack political will’
India on Wednesday said developed countries were still not willing to fulfill their commitments under the WTO agreements and warned this could put the entire global trade at risk.
By PTI |
NEW DELHI: India on Wednesday said developed countries were still not willing to fulfill their commitments under the WTO agreements and warned this could put the entire global trade at risk.
"India is concerned at the slow pace of (WTO) negotiations... While the suspended (Doha Round) talks have resumed, the political will on the part of developed countries is still not evident," Commerce Secretary Gopal K Pillai said in Geneva at the WTO's trade policy review meeting.
India wants developed countries to bring down tariffs on imports from developing countries so that their incomes and share in world trade can improve. The Doha Round of talks was launched with this goal in mind but developed countries were reluctant to take steps in this direction.
"On an average, low-income countries face tariffs three to four times higher than the barriers applied in trade between high-income countries. Developing countries account for less than one-third of developed country imports but for two-thirds of tariff revenues collected," he said.
According to an official statement, Pillai said unless the development dimension of the Doha Round was met and developing countries prosper, global trade would be at risk.
"The rapid economic growth of developing countries is a must for a truly global trade order to flourish," he said.
"India is concerned at the slow pace of (WTO) negotiations... While the suspended (Doha Round) talks have resumed, the political will on the part of developed countries is still not evident," Commerce Secretary Gopal K Pillai said in Geneva at the WTO's trade policy review meeting.
India wants developed countries to bring down tariffs on imports from developing countries so that their incomes and share in world trade can improve. The Doha Round of talks was launched with this goal in mind but developed countries were reluctant to take steps in this direction.
"On an average, low-income countries face tariffs three to four times higher than the barriers applied in trade between high-income countries. Developing countries account for less than one-third of developed country imports but for two-thirds of tariff revenues collected," he said.
According to an official statement, Pillai said unless the development dimension of the Doha Round was met and developing countries prosper, global trade would be at risk.
"The rapid economic growth of developing countries is a must for a truly global trade order to flourish," he said.
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