You are here: Home » Economy & Policy » News
Business Standard

India, Brazil, S Africa upset over Doha impasse

Press Trust Of India  |  Davos 

Expressing disappointment over impasse in WTO Doha talks for a global trade deal, India, Brazil and South Africa (IBSA) today underscored the need for resisting protectionism in the current economic scenario.

"Global economic conditions are challenging, this is almost fourth year of recession. The only way is to engage more and work for a multilateral trade regime," Indian Commerce and Industry Minister Anand Sharma told reporters here.

At the IBSA meeting, on the sidelines of the World Economic Forum (WEF) annual event, the trade ministers said that developed countries had caused distortions by high-level of protection in the form of tariffs and subsidies in agriculture.

These distortions "continue to undermine the development prospects of developing countries, especially the least developed among them," an IBSA declaration said. It said, "The ministers expressed deep disappointment at the current impasse in the Doha Development Agenda (DDA) negotiations..."

The IBSA ministers met ahead of the informal meeting of important WTO members, including India, US and South Africa. Besides Sharma, Brazilian Foreign Minister Antonio Patriota and Rob Davis of South Africa were present. The meeting hosted by the Swiss authorities was also attended by Director General of the World Trade Organisation (WTO) Pascal Lamy.

US Representative Ron Kirk said "We need to have a new start and have a beginning towards putting something concrete on the table.... I am hopeful."

Kirk's remarks are important given the impression among the developing countries in the midst of slowdown and the US elections, America does not seem to be keen on pushing for opening up of its economy.

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Sun, January 29 2012. 00:14 IST
RECOMMENDED FOR YOU
.