IBSA calls for early conclusion of WTO Doha roundJanuary 28th, 2012 - 6:44 pm ICT by IANS
Davos, Jan 28 (IANS) India, Brazil and South Africa have called for early conclusion of the Doha round of the World Trade Organisation (WTO) negotiations saying it would help boost global economic growth.
India’s Commerce Minister Anand Sharma held discussions with his counterparts from Brazil and South Africa here Friday on the sidelines of the 42nd meeting of the World Economic Forum.
The ministers expressed deep disappointment at the current impasse in the Doha Development Agenda negotiations, according to an official declaration released Saturday following the meeting.
“They reiterated the need to conclude the Doha round as soon as possible, building on the significant progress already achieved and on the careful balance of concessions negotiated since the launching of the round in 2001,” it said.
India, Brazil and South Africa, as a group called IBSA, reaffirmed their commitment to continue working together to push for early conclusion of Doha round and on other multilateral forums.
The Doha round of the WTO negotiations, which was launched in Qatari capital in 2001, is deadlocked due to differences between developed and developing countries on a host of issues including agricultural subsidies and market access.
India, Brazil and South Africa trade ministers called for keeping the development dimension of the Doha round intact.
The US and other developed countries have been pitching for a shift in the development dimension of the multilateral trade negotiation, citing changing dynamics of the global economy.
The IBSA ministers expressed concern at the weak and unsteady economic situation in many countries and regions, which poses a serious challenge for the economic policy and growth prospects of developing and low income countries.
They emphasised on the need for a greater policy coordination to ensure strong, sustainable and balanced growth of the global economy.
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Tags: agricultural subsidies, anand sharma, careful balance, commerce minister, differences between developed and developing countries, doha development agenda, global economic growth, global economy, growth prospects, low income countries, multilateral trade, other developed countries, policy coordination, s commerce, south africa trade, trade negotiation, world economic forum, world trade organisation, world trade organisation wto, wto negotiations