Delhi meet to pave way for conclusion of Doha Round: Lamy

Concerned over the "chilling effect" of trade barriers imposed by certain countries, WTO Director General Pascal Lamy today hoped the Delhi ministerial meeting would be the beginning of the "end game" leading to conclusion of the Doha Round for a global trade pact.     

"I hope Delhi (informal meeting) can be the beginning of the end game of the Doha Round," Lamy said in his interaction with industry body FICCI here, hours before the meeting of the trade ministers from 35 countries who have assembled in the capital to reach a common ground.     

It is only through a trade-opening global pact that issues like distorting subsidies or generating market access can be addressed, the WTO chief emphasised.  

"Whether it is about generating market access for goods and services or facilitating trade, the most efficient means to achieve these goals today remains in the multilateral Doha Development Round," he said.   

Countries have increased tariffs, imposed non-tariff barriers, besides initiating anti-dumping measures, he said, pointing out "most of these measures are allowed under the WTO rules ... But there is no denying the fact that they have had some trade chilling effect".     

Rather being a cause of the economic crisis, trade has been a casualty, Lamy said, adding "WTO economists have foreseen a decline this year of nearly 10 per cent (global trade) in volume terms, it is the worst result since the end of the Second World War."

The contraction in trade, Lamy added, has become sharper with trade finance drying up, "which oils the wheels of international trade."  

The Delhi meeting, an initiative of Commerce and Industry Minister Anand Shamra, is the first occasion since July 2008 when Ministers representing practically all kinds of opinion and interest at the WTO have come together to chalk out strategy for conclusion of the Doha talks.     

The Doha negotiations had collapsed in Geneva in July last year mainly on the issues of farm subsidies and level of protection being given to farmers by different members countries.     

India hopes the ministerial to build on the momentum provided by recent political signals at international meetings, including the G-20 Summits in Washington and London and translate them into "workable plan of action".     

International leaders have set 2010 as the deadline for concluding the Doha Round.     

According to Lamy, the ministers would have the opportunity to map out the strategy to bring the Doha Round to closure in 2010.