labels: economy - general
India, EU agree on Doha round; farm trade issues crucial: Kamal Nath news
30 October 2007

Mumbai: There was near total convergence between India and the European Union on the contentious Doha round of global trade negotiations, talks, commerce minister Kamal Nath said.

"There is great convergence between India and EU. We have almost total convergence. I believe convergence can be found on industrial products in the next two months," Nath told a business conference organised for visiting German Chancellor Angela Merkel.

The Doha round of trade negotiations is near closure but this is dependent on addressing the sensitivities of the various stakeholders,

"We are closer than ever before to closing the round," he said earlier, while addressing a session on `New Partners, New Alliances: India and Global Commerce'' at the Fortune Global forum.

"We are in the last mile. If we can win this, we are there," the minister maintained. "At the same time, we have to address sensitivities. If America has its sensitivities relating to agriculture, so do African nations that have only one crop," he added.

He said India''s main concern was on the issue of agriculture and unless its sensitivities were taken on board, it would not be able to exercise flexibility in other areas.

The Fortune Global Forum, which brings together the world''s top industry leaders, is being held in India for the first time.

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India, EU agree on Doha round; farm trade issues crucial: Kamal Nath