Doha talks should break deadlock: WTO chief

Admitting the 'deadlock' in the Doha round of trade negotiations, WTO Director General Pascal Lamy Monday said that both the developed and developing countries should now seriously think about how they can continue to advance global trade opening and progress in updating the existing trading rules.
The Doha Round of trade negotiating of the WTO, launched in the Qatari capital in 2001, aims to boost global trade by reducing trade barriers. The negotiations are stalled since 2008 due to the differences between the developed and developing nations on the extent of liberalisation of trade in industrial goods, agriculture and services.
Expressing his concern during the inaugural function of WTO's Regional Trade Policy Course (RTPC) being organized by the WTO and the Centre for WTO Studies, IIFT, Lamy added that with leadership, pragmatism and determination we should continue to address the various issues that we are unable to discuss at the moment. “We can’t give up because of steep slope or long path” he said.
Lamy, who is on a two-day visit to Delhi mentioned that WTO is a member driven organization and its negotiations are a collective enterprise. Stakeholders of global trading systems recognize its worth and contribution in times like these.
“India is a good example of how trade can be leveraged to achieve growth and reduce poverty”, Lamy added.
Lamy also said, "We are now preparing the 8th WTO Ministerial Conference which will take place in December and I am confident that the WTO members — the stakeholders of the global trading system — will be able to chart a path forward."
Dwelling his views further, the Commerce, Industry and Textiles Minister, Anand Sharma also said that the Doha round of negotiation must not be allowed to collapse as it will result in protectionism and hurt global economy and trade.
"Many skeptics feel that the WTO is at crossroads and that the lack of progress in the Doha round raises questions on the relevance and efficacy of this institution. We do not share this pessimism," Sharma added.
Sharma said India had taken initiatives to break the deadlock and remained committed for early conclusion of the talks.
He pointed out that developing countries were being called upon to pay an unconscionably high price to conclude the round.
"This certainly was not our expectation and our commitment when we agreed to participate in the round," he said.
The Minister pointed out that a timely conclusion of the Doha Round would not only have strengthened the WTO as a bulwark against protectionism, and given a boost to the global economy, but would also have signaled the WTO’s firm commitment to development.
While a crisis may lead to inward looking and promote protectionism, it will be counterproductive and will delay the recovery and deepen recession. WTO has a crucial role to play in this regard," Sharma further added.

September 6, 2011

Source: SME Times