Kamal Nath optimistic about world trade talks
Union Commerce and Industry Minister Kamal Nath has said he is optimistic about the outcome of the world trade talks as no country wants to fracture the mulilateral trading system. "
By PTI |
WASHINGTON: Union Commerce and Industry Minister Kamal Nath has said he is optimistic about the outcome of the world trade talks as no country wants to fracture the mulilateral trading system. "The difference between the Uruguay Round and the Doha Round is that in the Uruguay Round many countries did not want to be in.
They thought that this Uruguay Round is nothing but a suicide round. Now in the Doha Round all countries want to remain engaged, all countries want to be a part in framing the rules of the game of global trade.
"The modalities ought to have been sorted out at Hong Kong but despite the uphill task I am optimistic. It is the desire of all countries not to fracture the multilateral system," Nath said. The Minister was addressing a press conference at the end of his address to the United States India Business Council's 31st Anniversary Leadership Summit yesterday. Nath said while all countries have their share of sensitivities and compulsions they cannot use this to block trade.
"Of course all countries have their perceptions, have their compulsions and their sensitivities and the sensitivities have to be addressed, have to be respected... but certainly sensitivities cannot be used to block... whether it is any county, it cannot use the floor in the garb of sensitivities to stop trade. But at the same time we have to measure what the sensitivities are and the implications," he said.
Asked if countries are aiming high and therefore setting the stage for difficulties along the line, Nath said that there was nothing wrong in "aiming high" but the bottom line is that countries would have to "temper" with a view to creating harmony. "Every country wants a lot... There is no problem in aiming high but there is a day when all all this has to be tempered.
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We also want it.India also wants it,but we will have to temper.We certainly don't want what we call a light round--package anything. We will make sure that this is an effect ive instrument of uniting trade, this Round. Because when we talk of globalisation,India was sceptical of globalisation ten or twenty years ago because we were not globally competitive" he said. "There are developing countries of different kinds. There are the LDCs,you have the vulnerable economies...every developing country has different concerns. Take India and Brazil. Brazil is very offensive on agriculture.India is not very offensive on agriculture......" the Minister said going on to make the point that the bottom line was one of cretaing harmony. Prior to coming to the USIBC meeting to give his Keynote Address, Nath met the US Trade Representative Susan Schwab with the two officials commiting to expand opportunities for trade and investment in the United States and India.
"With India already among the United States' fastest growing major bilateral trade relationships, the cooperative steps endorsed today will serve to further trade and investment, with the goal of doubling two-way trade in three years.
"Ambassador Schwab and Minister Nath also discussed the Doha negotiations, agreeing that the U.S. and India share a commitment to conclude a successful, far reaching Doha Round by the end of 2006" the USTR said in a Press Release at the end of the meeting.
"Under the Trade Policy Forum we continue to make steady progress on key issues to improve the bilateral trade and investment climate.We remain committed to doubling bilateral trade over the next three years, and improving the regulatory, customs and intellectual property protection climate is key" Ambassador Schwab remarked.
"The Trade Policy Forum has, within a short time emerged as a very effective forum for the two sides to enhance bilateral trade and investment. It was encouraging to see both sides engaged in intensive discussions at the expert level on a variety of issues of mutual interest" Nath said returning to this theme at his press interaction.
The United States and India have agreed to a number of actions, including cooperation on an action plan and technical assistance to promote innovation, creativity and technological advancement by providing a vibrant intellectual property rights regime;and in initiating a Bilateral Infrastructure Investment Program that will focus on identifying investment opportunities, incentives and challenges in key infrastructural sectors.
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The USTR has pointed out that various steps have been taken to address several sanitary and phytosanitary (SPS) issues including Indian mango exports to the United States and US almond, wax covered fruit and wheat exports to India;progress toward selecting participants for a working group on legal services to discuss market access and other relevant issues;besides continued discussions on tariff structures to facilitate wine and spirits trade as well as discussions on emissions standards for large motorcycles.
The United States and India have also agreed to create a senior-level private sector adjunct to the Trade Policy Forum that will provide strategic direction, input and support to the TPF.
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