PM hits out at developed countries on trade
Regretting the impasse in the Doha round of WTO negotiations, Prime Minister Manmohan Singh on Wednesday hit out at developed countries for their "myopia" and asked them not to allow their "short-term national interests" to prevail at the cost of ...
By PTI |
CAMBRIDGE: Regretting the impasse in the Doha round of WTO negotiations, Prime Minister Manmohan Singh on Wednesday hit out at developed countries for their "myopia" and asked them not to allow their "short-term national interests" to prevail at the cost of promoting free-trade and combating poverty.
Singh, while receiving an honorary Doctorate of Law from the prestigious Cambridge University, said there are real and palpable concerns with regard to globalisation and these should be addressed by making globalisation an inclusive process leading through a new global vision.
"It is a matter of deep concern that the Doha Development Round of trade negotiations has reached an impasse," said the economist Prime Minister while addressing students and alumni of the university from where he graduated nearly 50 years ago.
Singh emphasised that if trade is to be an instrument of combating poverty and spreading manufacturing capacities more evenly in the world, "it is vital that barriers to the export of agricultural goods from developing countries be eliminated".
He noted that two-thirds of the population of developing countries live in rural areas in comparison to less than 10 per cent in developed countries. "The prosperity of so many cannot be sacrificed for protecting the interests of so few," Singh said.
"My appeal is that developed countries should not allow short-term national interests to prevail at the cost of promoting freer trade and combating poverty...the price of myopia is heavy on the exchequers of the developed world," he said, adding "the issue also has profound moral dimensions."
Linking global peace with eradication of poverty, Singh said to convince people in poor countries about the benefits of globalisation a more "enlightened view" was needed in liberalising trade in services and labour intensive manufacturing, in which developing countries are competitive.
Singh, while receiving an honorary Doctorate of Law from the prestigious Cambridge University, said there are real and palpable concerns with regard to globalisation and these should be addressed by making globalisation an inclusive process leading through a new global vision.
"It is a matter of deep concern that the Doha Development Round of trade negotiations has reached an impasse," said the economist Prime Minister while addressing students and alumni of the university from where he graduated nearly 50 years ago.
Singh emphasised that if trade is to be an instrument of combating poverty and spreading manufacturing capacities more evenly in the world, "it is vital that barriers to the export of agricultural goods from developing countries be eliminated".
He noted that two-thirds of the population of developing countries live in rural areas in comparison to less than 10 per cent in developed countries. "The prosperity of so many cannot be sacrificed for protecting the interests of so few," Singh said.
"My appeal is that developed countries should not allow short-term national interests to prevail at the cost of promoting freer trade and combating poverty...the price of myopia is heavy on the exchequers of the developed world," he said, adding "the issue also has profound moral dimensions."
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Linking global peace with eradication of poverty, Singh said to convince people in poor countries about the benefits of globalisation a more "enlightened view" was needed in liberalising trade in services and labour intensive manufacturing, in which developing countries are competitive.
The achivements of the era of globalisation "should not blind us to the new anxieties" the new trading system has brought, Singh said.
He said there are "real and palpable concerns" with regard to globalisation which cannot be ignored and added that "we (should) address these vital concerns by making globalisation an inclusive process...This calls for a new global vision."
He said the reach of globalisation is yet to touch many parts of the world. "Moreover, evidence suggests that the process has not removed personal and regional income disparities," Singh said, adding growth is bypassing rural areas in many developing countries.
"The gap between rich and poor is widening. This, coupled with inability of the public sector to provide adequate and quality services in health and education and cater to the needs of the poor, is causing resentment and alienation. This is nurturing divisive forces and putting pressure on the practise of democracy," he said.
Singh observed that prosperity is not divisible and neither is global peace possible without the eradication of poverty.
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"I see trade not only as a means of prosperity but also as peace building," he said.
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