Interviews
We are nearing completion of Doha Round - Shri Nath
18 Jan '08
4 min read
China became globally competitive, overtaking the developed nations and India grew to be most preferred outsourcing location for IT enabled services with its software prowess.
Earlier Mr Sunil Kant Munjal, Past President CII & Co-Chairman of the summit and Chairman, Hero Corporate Services Ltd opened up the discussion by saying that the theme of the Doha round is development and interests of the developing countries and LDCs should be kept in mind in the negotiation process.
Mr Yoshitaka Shindo, Senior Vice Minister of Economy, Trade and Industry, Japan said that trade played a major role in rebuilding the Japanese economy in the post war period.
Though free trade agreements are important to boost trade between countries, they cannot be a substitute for a global multilateral trading system, he said.
Mr. Shindo noted that the challenge before the world is to make sure that all countries are able to share the fruits of successful conclusion of the Doha Round.
Ms Mari Elka Pangestu, Minister of Trade, Indonesia gave a brief background of the Doha Development Round from the perspective of developing nations. She said that 'free trade is not an end in itself' but should lead to development of countries worldwide.
She further said that opening up of economies impact various vulnerable sectors of the economy, so 'capacity', 'sequence' and 'timing' are major factors worth consideration.
In agriculture, domestic support and export subsidies reduction is a priority need, as it affects the pattern of agriculture trade and work against the interests of the developing countries and LDCs.
Mr. Simon Crean, Minister of Trade, Australia announced that India and Australia have decided to set up a Joint Study Group for a bilateral free trade agreement between India and Australia.
He also talked of the importance of domestic reforms in realising the benefits of trade liberalisation. In addition Mr. Crean talked of a political will among the countries for successfully concluding the Doha Round.
Earlier Mr Sunil Kant Munjal, Past President CII & Co-Chairman of the summit and Chairman, Hero Corporate Services Ltd opened up the discussion by saying that the theme of the Doha round is development and interests of the developing countries and LDCs should be kept in mind in the negotiation process.
Mr Yoshitaka Shindo, Senior Vice Minister of Economy, Trade and Industry, Japan said that trade played a major role in rebuilding the Japanese economy in the post war period.
Though free trade agreements are important to boost trade between countries, they cannot be a substitute for a global multilateral trading system, he said.
Mr. Shindo noted that the challenge before the world is to make sure that all countries are able to share the fruits of successful conclusion of the Doha Round.
Ms Mari Elka Pangestu, Minister of Trade, Indonesia gave a brief background of the Doha Development Round from the perspective of developing nations. She said that 'free trade is not an end in itself' but should lead to development of countries worldwide.
She further said that opening up of economies impact various vulnerable sectors of the economy, so 'capacity', 'sequence' and 'timing' are major factors worth consideration.
In agriculture, domestic support and export subsidies reduction is a priority need, as it affects the pattern of agriculture trade and work against the interests of the developing countries and LDCs.
Mr. Simon Crean, Minister of Trade, Australia announced that India and Australia have decided to set up a Joint Study Group for a bilateral free trade agreement between India and Australia.
He also talked of the importance of domestic reforms in realising the benefits of trade liberalisation. In addition Mr. Crean talked of a political will among the countries for successfully concluding the Doha Round.
Confederation of Indian Industry
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