Continued policy reforms essential for sustained economic growth
24 May '07
3 min read
“High-income countries representing 15% of the world's population still account for two-thirds of world exports. The share of world exports of Sub-Saharan Africa, with 689 million people, is less than one-half of that of Belgium, with 10 million people”, the statement added.
“We have a historic opportunity to partially correct this imbalance in the current Doha Development Round. India is extremely concerned at the slow pace of negotiations. While the suspended talks have resumed, the political will on the part of developed countries is still not evident."
Unless the development dimension of the Doha Round is met and the developing countries prosper, global trade will always be at risk. The rapid economic growth of developing countries is a must for a truly global trade order to flourish.
"India stands committed to meet its obligations under the mandate of the July Framework and the Hong Kong Ministerial Declaration. Developed countries must recognize that our destinies are intertwined”, the statement said.
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