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New WTO round only if members agree: UK

Ahead of Doha ministerial meeting later this week, Britain on Tuesday agreed with India that a new trade round could be launched only when a consensus was arrived at among all the 142 WTO member countries.

"We cannot be absolutely confident (of a new round being launched at Doha). This decision has to come on the basis of a consensus among the members," a senior British diplomat said.

The comments assume significance as it conforms to India's position that negotiations for a new round should not be started unless there is a consensus among all WTO members.

US and EU had warned India that it would be isolated if it did not agree to a new round.

John Dennis, director of Trade and Investment Promotion Counsellor (economic and commercial) with the commission said a number of countries including the UK would be coming to Doha with a constructive approach to launch a fresh round of mandated negotiations. He expected India to adopt such a constructive approach.

But, failure to arrive at a consensus on new round would be very damaging to the world economy which was increasingly coming in the grip of a slowdown particularly after September 11 terrorists attack on US, he said.

"Our particular concern is that failure at Doha would take the forward momentum away from WTO and increase regional trade blocs and countries like India which are not part of any trade blocs would suffer the most," he said.

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