labels: trade, markets - general
India, Brazil set July deadline for breakthrough in world trade talksnews
14 April 2007

Mumbai: India and Brazil, which represent the interests of developing countries in the world trade talks, feel that differences among key players will have to be ironed out by July for successful conclusion of the Doha Round of negotiations.

"If one has to conclude negotiations by 2007-end, we have to come to an agreement on modalities by July, which means two-three months of very intensive work," Brazilian Minister of External Relations Celso Amorim said at a CII seminar.

"We are in a decisive stage... A positive result is possible and within reach. The modalities by July are a real possibility," Amorim said.

No country or group had spelt out positions clearly so far and only broad contours of an agreement were emerging, he said.

An Indian commerce ministry official, meanwhile, said that differences over tariff and subsidies among developing and developed countries should be sorted out by the end of June if "we want to conclude the Round by end of 2007".

Brazil is a member of the Cairn Group of nations, which are major exporters of agricultural goods and are demanding freer trade in farm products. India, however, wants to protect its farmers from cheap imports.

Six key WTO players, including India, Brazil, the US and the European Union, who met in New Delhi had pledged to conclude the much-delayed Doha Round of trade liberalisation talks by the end of this year.

Amorim also said while WTO may be tilted toward the developed countries, it is still the "best that we can have".


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India, Brazil set July deadline for breakthrough in world trade talks