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August 8, 2001
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Money > Business Headlines > Report August 8, 2001 |
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Maran to reiterate stand on WTO at meet with USTRBS Economy Bureau Commerce and Industry Minister Murosali Maran in his meeting with US trade representative Robert Zoellick will broach bilateral issues including restrictions on steel and textile imports imposed by the US even as he will reiterate India's existing stand on the launch of a new round of trade negotiations. Speaking to Business Standard, a senior commerce department official said, "As of now our stand on the launch of a new round remains unchanged. But obviously the USTR is coming to convince us on a new round." The USTR is commencing a two-day visit to India from Wednesday. India has repeatedly said the launch of a new round of trade negotiations will depend on addressing implementation issues of the Uruguay Round upfront. It has also said the benefits of the previous round have not been distributed properly and developing countries are still to reap the benefits of increased market access to developed markets even as they have reduced their own import tariffs and reduced entry barriers. The US on the other hand is in favour of a new round of trade negotiations and wants improved market access, particularly through further reduction of tariffs. "Mandated negotiations and reviews and various working group discussions form a large agenda for the WTO system, which stands unfinished. We should use Doha to take stock of the situation on all these issues plus the implementation concerns. Bringing multiple issues on the table just for a few countries without any benefit to developing countries does not augur well for the success of the multilateral trading system. Therefore, it is not necessary that in every ministerial meet, we should talk or begin a new round," Maran said in a letter to trade ministers of the G-77 countries. Even on Friday, when he met the Jamaican Trade Minister Anthony Hylton who is also the chairman of the Asia, Caribbean and Pacific group states' trade ministers, Maran underlined the point that a consensus for the forthcoming ministerial meeting of WTO members can be reached only if implementation issues are resolved satisfactorily and contentious non-trade issues like environment and labour are kept out of the agenda. Powered by YOU MAY ALSO WANT TO READ:
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