After the United Progressive Alliance (UPA) victory in trust vote, Kamal Nath Commerce Minister is now returning to the ongoing crucial WTO talks in Geneva.
After the United Progressive Alliance (UPA) victory in trust vote, Kamal Nath Commerce Minister is now returning to the ongoing crucial WTO talks in Geneva. He is leading India’s negotiations in the talk. Nath went to Geneva before the talks on Doha round but had to return to participate in the trust vote.In the absence of the Commerce Minister, WTO secretariat had given permission to Commerce Secretary G K Pillai to lead the country in the negotiations.
India’s negotiating partners at the WTO were keen that the government passes the trust vote in parliament. The government would now have to make commitments that would bind the country for 10 years. The first item on the agenda is subsidies that prevent farmers in the poor countries from selling their produce in the world markets. The US in order to drive a hard bargain has offered to limit these to 15 billion dollars a year. This range is more than double that it currently pays it farmers, including those earning as high as 2.5 million dollars a year or owing more than a 1000 hectares. “All the main developed and developing nations must be prepared to make offers in agricultural market access and non-agricultural market access,” said Susan Schwab, US trade negotiator.
Presently, countries like India are discussing about the number of items that can be exempted from imports to protect their farmers. “I keep saying that percentage cut can be a cut in average or an average cut, you can reduce 2 per cent to zero and call it a hundred per cent cut,” said G K Pillai Commerce Secretary. On Thursday, when liberalization of services trade would be discussed, India would want the United States and the EU to make offers for a range of services both outsourced and provided onsite by India.
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