‘Development back on WTO agenda’

Posted: Friday, Dec 23, 2005 at 0000 hrs IST
Updated: Friday, Dec 23, 2005 at 0000 hrs IST

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New Delhi, Dec 22: The alliance of developing and least developed countries (LDCs) has helped put the development agenda of the Doha Round back on the negotiating table at the World Trade Organisation (WTO), commerce secretary SN Menon has said.

Speaking at a national conference on WTO and trade policy organised by the CII on Thursday, Mr Menon pointed out that for the first time in WTO, the framework text (negotiated in the ministerial meet) was in favour of developing countries instead of favouring developed countries.

Mr Menon said that on all aspects of the negotiations, India has been able to safeguard its defensive interests without giving up its demand for removing trade-distorting measures in the developed world.

In the area of agriculture, Mr Menon said that India and other developing countries could continue to retain 10% de-minimus levels on the aggregate measure of support. Further, India can continue to provide some of the current subsidies that exist, he said.

The most important achievement in the area of agriculture is the issue of price trigger for special safeguard measures. This was not supported by many countries till India could provide the data to backup the need for continuing with the price trigger mechanism.

GOOD DEAL

• Commerce secretary SN Menon has pointed out that for the first time in WTO history, the framework text is in favour of developing countries
• In agriculture, India and other developing countries...

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