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CII backs India's stand at G4

22
Jun '07
The Confederation of Indian Industry (CII) supports the stand of India and Brazil in the G-4 talks held on 19 June 2007, in Potsdam, Germany.

It is regrettable to learn that the representatives of G-4 - India, Brazil, the US and the EU yet again failed to reach a consensus on agricultural subsidies concerning developing countries in the WTO negotiations.

CII is of the view that for the successful conclusion of the negotiation, the developed world, especially the US and the EU, should come up with some real commitments on Agriculture, said Mr. R V Kanoria, Chairman, CII WTO and Other Trade Agreements Committee.

The developed countries have hardly shown flexibility in pruning down their spending on subsidies within the range of US$ 12-15 billion as proposed by the developing countries from the existing ceiling of US$ 17 billion.

The Indian Commerce and Industry Minister, Mr. Kamal Nath observed that the proposals from the US and the EU have 'no logic or equity'.

CII supports India's stand on multilateral talks. In terms of the pro-development rules of world trade, the Doha Round would lose its relevance if the developed countries continue to be inflexible. The continuous refusal of the US and the EU to acknowledge the livelihood and food security concerns of developing nations like India is unfortunate.

The success of this Round essentially depends on achieving a 'level playing-field' in the world agricultural trade. For this, the developed countries should do away with trade-distorting subsidies and hence look not only for free trade but ensure fair trade, said Mr. Kanoria.

Confederation of Indian Industry


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