Counter 'Simple Swiss' formula: Assocham
: Industry chamber Assocham on Wednesday said India should strongly counter the 'Simple Swiss' formula in non agricultural market access (NAMA) issue at the ongoing Mini-Ministerial meeting of the WTO in China.
By PTI |
NEW DELHI: Industry chamber Assocham on Wednesday said India should strongly counter the 'Simple Swiss' formula in non agricultural market access (NAMA) issue at the ongoing Mini-Ministerial meeting of the WTO in China.
This proposal being pushed by developed countries like the US and the EU is against the spirit of the Doha mandate, it said.
"The simple Swiss formula goes against our interest," Assocham President Mahendra K Sanghi said extending full support to the government on the issue.
"Under the so-called Swiss formula no matter which coefficient is applied, developing countries will face higher tariff cuts than developed countries. It ignores the principle of 'less than full reciprocity'. However, the 'Modified Swiss formula' jointly proposed by Argentina, Brazil and India, attends to the concerns of the developing countries," he said.
The Swiss formula makes out a case for higher cuts in the higher tariffs, thus damaging the interests of the developing countries. Because of their vulnerable position, most of the developing countries have higher bound tariffs than those of developed countries.
The WTO members would deliberate on the issue and attempt to reach the First Approximations by end of this month to get some concrete results ahead of the Hong Kong Ministerial Conference in December 2005.
This proposal being pushed by developed countries like the US and the EU is against the spirit of the Doha mandate, it said.
"The simple Swiss formula goes against our interest," Assocham President Mahendra K Sanghi said extending full support to the government on the issue.
"Under the so-called Swiss formula no matter which coefficient is applied, developing countries will face higher tariff cuts than developed countries. It ignores the principle of 'less than full reciprocity'. However, the 'Modified Swiss formula' jointly proposed by Argentina, Brazil and India, attends to the concerns of the developing countries," he said.
The Swiss formula makes out a case for higher cuts in the higher tariffs, thus damaging the interests of the developing countries. Because of their vulnerable position, most of the developing countries have higher bound tariffs than those of developed countries.
The WTO members would deliberate on the issue and attempt to reach the First Approximations by end of this month to get some concrete results ahead of the Hong Kong Ministerial Conference in December 2005.
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