Major advanced and emerging economies of the World Trade Organisation (WTO) are close to making a decision to hold a ministerial meeting in September in India, sources close to the matter said today, which means that momentum is growing to revitalise the stalled Doha Round of global trade liberalisation talks.
The leaders of the Group of Eight major nations, who are to kick off their annual summit meeting the same day in Italy, are likely to explore the chance of convening the WTO session to be joined by selected members of the international body, the sources said. A specific schedule for the session is not yet known but it is expected to come around September 3.
India, under new Commerce and Industry Minister Anand Sharma, has strong interest in hosting a WTO session as it appears that the Doha Round is regaining momentum, especially after the installation of the new US administration led by President Barack Obama, one of the sources said.
The WTO “failed to deliver a ministerial session last December partly owing to a row between the US and India,” another source said.
“If we can get the Doha Round back on track, I don’t think any country will resist India’s proposal,” sources said.
