The Hindu : National : WTO objectives achieved in pact

Online edition of India's National Newspaper
Monday, Apr 25, 2005

National

National

WTO objectives achieved in pact

Special Correspondent

NEW DELHI: India has achieved all its major objectives in the Framework agreement of the World Trade Organisation (WTO) on the Doha round of trade negotiations adopted in August last year, including in the crucial area of agriculture.

This is highlighted in the Commerce Ministry's annual report for 2004-05 which notes that the Government took an active part in the revival of the Doha process by interacting with both developing and developed countries in the WTO.

"As a result of these efforts, the agreement was adopted by WTO member-countries in the General Council meeting in Geneva of the WTO on August 1, 2004, ensuring that the negotiations were back on track", the report says.

It points out that with a view to safeguarding the interests of farming sector, India made concerted efforts with like-minded alliance on agriculture and the Group of 33 alliance on Special Products. This ensured the elements and the principles incorporated in the agreed framework on agriculture would lead to substantial reductions in trade distorting domestic subsidies provided to farm sector largely by developed countries. It is also expected to lead to a credible end date for elimination of their export subsidies and substantial market access improvements for products of export interest to developing countries.

Similarly, the report maintains that the Government negotiated successfully in the area of non-agricultural market access (NAMA), services and ensured the framework agreement includes a firm commitment to addressing implementation issues and operationalisation of special and differential treatment for developing countries on a time bound basis.

Highly competitive

It also stressed the growing competitiveness of Indian exports and high growth rate registered by its manufacturing sector, coupled with recovery in global economy and world trade, which helped maintain the buoyancy in India's export growth over and above the targeted levels. With the high growth achieved despite strengthening of the rupee vis-a-vis dollar, the country is expected to double its percentage share of world merchandise trade by increasing its exports to $150 billion by 2009, according to the report.

Printer friendly page
Send this article to Friends by E-Mail

National