The Hindu : International / India & World : India's concerns addressed: Kamal Nath

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Sunday, Aug 01, 2004

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International - India & World

India's concerns addressed: Kamal Nath

NEW DELHI, JULY 31. After four days of hectic negotiations, the World Trade Organisation today reached a deal, which India said ``more than adequately'' addressed its concerns.

Emerging from a meeting, the Commerce and Industry Minister, Kamal Nath, who flew back from Bangkok to attend the trade talks which almost broke down yesterday, told PTI over phone from Geneva that ``we have closed the deal. It more than adequately addresses our concerns.''

``Developed countries cannot by way of artificial price mechanism gain access to Indian markets and will now have to take firm steps to reduce domestic support.''

``Developed countries have recognised that agricultural trade with heavy subsidy component is not free trade,'' he said. Talks nearly broke down on Friday when India, along with some other countries, said that the new revised draft was not acceptable as it had failed to address developing countries' concerns especially with regard to agriculture.

India and other developing countries have been seeking apart from less than full reciprocity for developing countries for reduction in tariff, substantial cuts in domestic support and elimination of all forms of trade distorting subsidies. India was also pressing for adequate safeguard to its sensitive products and a provision for special products. — PTI

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