India and 24 other trade ministers today agreed to step up efforts to conclude a multilateral trade deal under the Doha Round this year itself. Commerce and Industry Minister Anand Sharma told reporters here after a three-hour meeting that “there was an optimism that a window of opportunity exists for concluding the deal in 2011 can be accessed”.
The meeting was hosted by Swiss Federal Councillor of Economic Affairs Johann N Schneider-Ammann. Differences between rich and developing nations have been a stumbling block in the conclusion of the talks. India and other developing nations are defending their agricultural markets to protect millions of subsistence farmers from easy imports that may result from the multilateral agreement.
The US and the other developed countries, however, seek more market access in developing nations. The Doha Round of talks under the aegis of the World Trade Organisation started in the Qatari capital in 2001.
“In particular, the ministers noted that under the existing draft modalities, developing countries would be required to offer a level of contribution without precedent by any member in any of the previous negotiating rounds. The ministers also agreed that such contributions are not being reciprocated by developed countries, some of whom still seek further exceptions and flexibilities to continue with their existing trade barriers and trade distorting policies, adversely affecting the developing countries’ interests,” a statement from the Indian commerce ministry said.