WTO talks in Geneva fail: Kamal Nath

Industry Minister Kamal Nath today said the Geneva round of talks of the World Trade Organisation (WTO) has failed.

Nath said further negotiations have been suspended.

"We cannot accept opening of our markets for subsidised agriculture products," Nath said. 

He said the onus was on developed countries to break the deadlock and blamed the US for refusing to make substantial cuts in farm subsidies.

However, US officials blamed other trading partners for the failure to bridge differences on another contentious issue of import duties on agricultural tariffs.

On non-agriculture market access, Nath said India cannot reduce duties on manufactured products without adequate safeguards.

The United States remains committed to a robust, ambitious and balanced round; unfortunately our trading partners were more interested in the loopholes than in market access, US trade representative Susan Schwab said.

Besides India, the meeting was attended by ministers from Australia, Brazil, European Union, Japan and the US attended the meeting called by WTO chief Pascal Lamy.

Trade negotiations are stuck on the two most contentious issues of farm subsidies and industrial tariffs due to adamant stance adopted by six key trading nations. The failure of this meeting has jeopardised the future of Doha Round of world trade talks.