✂ Fed’s first rate cut since 2020: Use our free Stock Screener to find new opportunities fastExplore for FREE

INTERVIEW-Hard bargaining still needed in Doha talks, India says

Published 06/19/2009, 10:22 PM
Updated 06/19/2009, 10:32 PM

By Daniel Bases

NEW YORK, June 19 (Reuters) - India's trade minister said on Friday there was "universal" agreement among his peers to restart the Doha round of world trade talks on the basis of existing draft documents, even though major U.S. farm and manufacturing groups remain opposed.

India's new commerce and industry minister, Anand Sharma, also qualified a statement he made earlier this week that the "impasse" in the stalled Doha talks had been broken.

Asked if agreements had been struck on issues such as farm tariffs or on greater access for manufactured goods, Sharma said nothing specific had been concluded to break the logjam.

"I think we are racing along too fast. What I said was that the impasse has to be broken, must be broken, number one. Number two, we talked of principles. When I went to the Cairns Group meeting we were not discussing specifics. These specifics will be discussed when the negotiations resume," Sharma said.

"The ambassadors have started talking, so you can see that it (the impasse) is broken," he said in reference to the trade talks that collapsed in July 2008.

The Doha round was launched in late 2001 to boost the world economy and help developing countries export more. Sharma would not say when he thought the talks would conclude.

The Cairns Group is a coalition of 19 agriculture exporting nations, made up of developing and developed economies, who met in Bali earlier this month.

RESTART

Sharma said there was broad-based support for restarting the talks using a set of texts proposed by World Trade Organization chairmen in December 2008 as the basis for negotiating a final deal rather than starting from scratch.

These texts included compromises such as a 70 percent cut in the ceiling for U.S. farm subsidies and cuts in U.S. import tariffs in sensitive sectors such as autos and textiles.

"I used the word universal endorsement. That includes my friend (U.S. Trade Representative) Ron Kirk too. In principle we have agreed. We are not getting into specifics. We have teams of experts who will sit. It takes a long time for them to calculate and negotiate," Sharma said.

President Barack Obama has given few details about how the United States plans to proceed on Doha. Kirk has repeatedly said that better off developing nations like India need to provide more market access for the talk to advance.

A spokeswoman for Kirk gave a more qualified description of the U.S. view of the December 2008 texts.

"Ambassador Kirk and Minister Sharma have had several good discussions. Both have welcomed the move towards resumption of Doha talks, and they have agreed to work together towards resolving outstanding issues," USTR spokeswoman Carol Guthrie said in response to Sharma's statements.

U.S. business groups such as the Coalition of Service Industries, National Association of Manufacturers and the American Farm Bureau Federation earlier this year urged the Obama administration to reject the December 2008 draft texts as the basis for further talks, saying they failed to provide enough new export opportunities for their members.

"The draft texts represent some progress, but not all elements are acceptable, which is why they remain draft texts," Guthrie said.

"Ambassador Kirk has said many times that further talks on Doha should not throw out the progress that has been made, but we do need to build creatively on the work that has been done." (Additional reporting by Doug Palmer in Washington)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.