‘We may walk out, if our concerns not addressed’
India is hopeful of making progress in the stalled World Trade Organisation negotiations that commence in Geneva next week.business Updated: Jul 16, 2008 22:55 IST
India is hopeful of making progress in the stalled World Trade Organisation (WTO) negotiations that commence in Geneva next week, but said it had the option of walking out if its concerns were not addressed.
“I am hopeful this meeting in WTO will lead to progress and closure, and I am optimistic,” Commerce and Industry minister Kamal Nath said told reporters in New Delhi. “Of course, we have a full option to walk out. There can be no agreement unless India agrees,” he added.
The latest negotiations to put on track the deadlocked Doha round would begin in Geneva from July 21. India and other developing countries want the United States and European Union (EU) to removal of ‘trade distorting’ subsidies in their farm sector.
Doha round, dubbed as the development round, has primarily faced a stalemate over agricultural trade.
Ministers from around 30 countries will meet to try for a long-awaited breakthrough on agriculture and manufactured goods in the Doha trade round.
Nath would be holding bilateral trade discussions with his counterparts from China, Brazil, US and the EU. He would return to India to participate in the crucial trust vote on July 22 and head back to Geneva to join the ministerial discussions.