UN body for focus on development at Hong Kong meet

The UNCTAD today said development issues should not be sidelined at the forthcoming WTO ministerial meeting at Hong Kong and the quality of the agreement should reflect the development concerns of the poorer countries.

"Member countries must do their best to support developing countries in the run-up to Hong Kong and beyond to help them analyse the situation and keep them engaged in the negotiations. We must not neglect the quality of the agreement in terms of the development," UNCTAD chief Supachai Panitchpakdi told reporters here.

Stating that he was optimistic about a positive outcome at Hong Kong, Panitchpakdi said there were still opportunities for member countries to enhance the clarity of the draft ministerial text released last Saturday and include more specificities.

He pointed out that even after a tacit agreement on the modalities was arrived at Hong Kong, individual countries would take between six months and a year to schedule their commitments.

Organisations like the UNCTAD could play a crucial role in providing a platform for eminent persons to come together and develop an acceptable definition of non-tariff barriers.

"We must not lose sight of tariff peaks, escalations and non-tariff barriers in the negotiations. At present, there is no acceptable definition of NTBs. UNCTAD can work on this further," he said, adding that members had recently decided to set up a group of eminent persons for trade and development issues.

Earlier addressing a meeting of stakeholders, the former WTO DG said India was underperforming by 70-80 per cent of its trade potential.

"Doha negotiations offer a unique opportunity to India to realise its trade and development goals. Benefits of trade liberalisation in all three areas (agriculture, industrial goods and services) can be high.

According to some estimates, welfare benefits to the tune of $820 million may flow into India from liberalisation of trade in agriculture," he said.

During his meeting with Commerce and Industry Minister Kamal Nath, he offered to organise an India Investment Policy review next year. Nath suggested that UNCTAD should build up a global trade data-base which would attract countries to engage more with UNCTAD as an institution.