Thaindian News

New Delhi, Sep 5 (IANS) The Doha round of the World Trade Organisation (WTO) must not be allowed to collapse as it will result in protectionism and hurt global economy and trade, Commerce and Industry Minister Anand Sharma said Monday.

“Many skeptics feel that the WTO is at crossroads and that the lack of progress in the Doha round raises questions on the relevance and efficacy of this institution. We do not share this pessimism,” Sharma said at the inaugural of WTO Regional Trade Policy Course 2011, at the Centre for WTO Studies here.

The minister said there was disappointment among members due to the delays but the negotiations should not be allowed to collapse.

The so-called Doha round of WTO negotiation, launched in Qatar capital in November 2001, has been deadlocked since 2008.

Sharma said India had taken initiatives to break the deadlock and remained committed for early conclusion of the talks.

Emphasising the need to stay focussed on the developmental dimension of the round, the minister said the terms of the discourse can’t be changed.

He pointed out that developing countries were being called upon to pay an unconscionably high price to conclude the round.

“This certainly was not our expectation and our commitment when we agreed to participate in the round,” he said.

Sharma, who is also the minister of textiles, said a timely conclusion of the Doha round would have strengthened the WTO as a bulwark against protectionism and given a boost to the global economy.

“While a crisis may lead to inward looking and promote protectionism, it will be counterproductive and will delay the recovery and deepen recession. WTO has a crucial role to play in this regard,” he said.