However, Mehta cited a study done by the International Food Policy Research Institute last year and argued that as things stand now, low-income countries would merely receive about two percent of this increase in global welfare and it would be the rich countries who are to gain most.
Agreeing with the findings of this study, Mehta emphasised that if the rich countries provide 100 percent duty-free, quota-free access to products originating from poor countries then there will be further increase in global welfare and almost half of that increase would accrue to the poor.
“Not only that poor producers of low-income countries would gain, there will be a huge gain for relatively poor consumers in rich countries, as protectionism in the rich world is more prominent in products mostly used by them. Not many jobs are saved either on account of such protectionism”.
Since last November, Doha trade talks have shown signs of revival, as trade negotiators worked hard in Geneva and national capitals to take technical discussions forward. “Now is the time to conclude these negotiations at a political level and deliver of developmental promises of Doha, as that would be win-win for producers and consumers alike,” Mehta added.