DAVOS, Switzerland (AFP) — Indian Commerce Minister Kamal Nath said Thursday he was optimistic that the World Trade Organization could reach a new global free-trade deal in coming months.
"I see that there are greater sensitivities and comprehension of each others problems," he told delegates at the Davos forum.
"I am optimistic that in the next couple of months with intensive negotiations we should be able to close this round," he added, referring to the stalled Doha round of world trade talks launched in 2001.
Leading members had been considering a meeting in December to hammer out the outline of the world trade deal, but plans were scrapped when it became clear that consensus could not be reached.
"The political space in December in the US was not adequate for them to be able to move," Nath said, pointing to the end of George W. Bush's presidency and the imminent handover to Barack Obama.
Nath called on the United States to take on the "leadership" role in the quest for a global free trade deal, saying that he is "convinced that the American administration will take a positive view on the Doha round."
"We hope that the United States would take the leadership of the conclusion of the Round," said Nath.
The Doha Round of negotiations were launched in the Qatari capital in 2001 to help poor countries take advantage of free and fair trade but have missed several deadlines due to a range of disagreements between the 153 WTO members.
But a deal has proved elusive as rich and poor countries fail to agree on market liberalisation and subsidies.
Nath stressed that the ongoing financial crisis has highlighted the importance of having such an accord, warning that some countries are beginning to adopt protectionist measures.
"Protectionism remains a threat ... I am convinced that in the long term, protectionist will not help the economic situation in any country," he said.
A traditional informal meeting of trade ministers in Davos is planned for Saturday, according to a spokesman for the WTO, but the talks will be hamstrung by the absence of the US negotiator.
"I see that there are greater sensitivities and comprehension of each others problems," he told delegates at the Davos forum.
"I am optimistic that in the next couple of months with intensive negotiations we should be able to close this round," he added, referring to the stalled Doha round of world trade talks launched in 2001.
Leading members had been considering a meeting in December to hammer out the outline of the world trade deal, but plans were scrapped when it became clear that consensus could not be reached.
"The political space in December in the US was not adequate for them to be able to move," Nath said, pointing to the end of George W. Bush's presidency and the imminent handover to Barack Obama.
Nath called on the United States to take on the "leadership" role in the quest for a global free trade deal, saying that he is "convinced that the American administration will take a positive view on the Doha round."
"We hope that the United States would take the leadership of the conclusion of the Round," said Nath.
The Doha Round of negotiations were launched in the Qatari capital in 2001 to help poor countries take advantage of free and fair trade but have missed several deadlines due to a range of disagreements between the 153 WTO members.
But a deal has proved elusive as rich and poor countries fail to agree on market liberalisation and subsidies.
Nath stressed that the ongoing financial crisis has highlighted the importance of having such an accord, warning that some countries are beginning to adopt protectionist measures.
"Protectionism remains a threat ... I am convinced that in the long term, protectionist will not help the economic situation in any country," he said.
A traditional informal meeting of trade ministers in Davos is planned for Saturday, according to a spokesman for the WTO, but the talks will be hamstrung by the absence of the US negotiator.
Posts
No comments:
Post a Comment