South Africa says WTO proposals unacceptable at this stage
South African Deputy Trade Minister Rob Davies on Saturday said that the country could not accept a draft document tabled on a global trade pact in its current form.
By Agencies |
GENEVA: South African Deputy Trade Minister Rob Davies on Saturday said that the country could not accept a draft document tabled on a global trade pact in its current form.
"At this moment, we're not in a position to give concurrence," he told reporters, adding that proposals on industrial products remained a sticking point.
Even if an agreement could be forged, it would "fall far short" of its original aim of addressing the problems of the developing world, assessed Davies.
"Even if we reach an agreement I don't think we go out and can tell the world that this is an outcome that is going to solve the development problems of the world. It certainly won't. It will fall far short of that," he said.
On Friday night, meetings between seven key economy powers yielded what some described as a "breakthrough" in negotiations towards concluding a trade pact under the so-called Doha Development Round. The Round was launched at the Qatari capital seven years ago, and aimed at addressing development issues by bringing the benefits of world trade to the developing world.
While the latest proposals floated were accepted by a majority of countries, some economies continue to have reservations. Davies said that for his country, proposals on industrial products remained a sticking point. The level of tariff cuts proposed were higher than the level sought by South African negotiators, he said.
"At this moment, we're not in a position to give concurrence," he told reporters, adding that proposals on industrial products remained a sticking point.
Even if an agreement could be forged, it would "fall far short" of its original aim of addressing the problems of the developing world, assessed Davies.
"Even if we reach an agreement I don't think we go out and can tell the world that this is an outcome that is going to solve the development problems of the world. It certainly won't. It will fall far short of that," he said.
On Friday night, meetings between seven key economy powers yielded what some described as a "breakthrough" in negotiations towards concluding a trade pact under the so-called Doha Development Round. The Round was launched at the Qatari capital seven years ago, and aimed at addressing development issues by bringing the benefits of world trade to the developing world.
While the latest proposals floated were accepted by a majority of countries, some economies continue to have reservations. Davies said that for his country, proposals on industrial products remained a sticking point. The level of tariff cuts proposed were higher than the level sought by South African negotiators, he said.
Download
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
