'Fair' Doha trade pact possible, says Sharma

Commerce and Industry Minister Anand Sharma has conveyed to US Secretary of State Hillary Clinton that finding a “fair” global trade deal under the World Trade Organization (WTO) is possible, raising hopes of a breakthrough in the Doha Round of multilateral talks.

During his meeting with Clinton here yesterday, Sharma said, “While a perfect solution may be elusive, it should be possible to find a fair solution acceptable to all parties...”

However, Sharma reiterated India's stand that the development dimension was “central to the Doha Round”, that has missed several goalposts for want of consensus among 153 WTO members.

Sharma also met US Trade Representative Ron Kirk and discussed with him ways to resolve the trade issues with a focus on “resolving them to the extent possible”.

He invited Kirk at the meeting of Group of 20 trade ministers scheduled later in New Delhi.

An invitation to the USTR at the meeting of G-20 grouping of the developing countries may be considered as a major initiative by India to bridge differences between the developed and developing countries on agricultural issues in the multilateral negotiations. Besides the WTO negotiations, Sharma discussed both with Clinton and Kirk bilateral issues. Clinton said the Obama administration was keen on a comprehensive and intensive bilateral relationship.

Addressing the annual summit of the US-India Business Council last evening, Sharma said the present level of bilateral trade was far below the potential.