labels: Trade
Revised WTO draft loaded against India, developing countries news
20 May 2008

The revised draft proposals of the World Trade Organisation (WTO), released by the negotiating group on agriculture, proposes less number of products which India and other developing countries can protect from unrestricted imports from the farm goods exporting countries such as the US, Canada and Australia.

The new negotiating texts on agriculture and industrial products leaves little policy space to protect their farmers and nascent industries in case of a world trade deal.

An agreement on the revised texts on agriculture and industrial goods would leave little space for developing countries to shield their farmers and industries from cheap imports.

If the new draft on agriculture is adopted, India will be allowed to designate less number of special products, which it can protect from unrestricted imports from countries like the US, Canada and Australia.

The new draft also skirted the issue of allowing for greater flexibility in protecting industries in the small and medium sector. Instead it harps on duty cuts on manufactured goods, sources said.

Developed countries, mainly the US, want a larger share of market in bigger developing countries such as India, China, Brazil and South Africa although the developed countries themselves do not want to sacrifice their market advantage.

The Doha Round of world trade negotiations for a multilateral trade agreement, launched in 2001,  have remained inconclusive amid differences between developed and developing countries. The talks were mandated to be concluded by end-2004.


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Revised WTO draft loaded against India, developing countries