India, Brazil SA regret trade talks stalemate
The three countries expressed concern and said no effort would be spared to put negotiations back on track.india Updated: Sep 14, 2006 17:17 IST
India, Brazil and South Africa have expressed concern at the suspension of trade talks under the World Trade Organisation (WTO) and said no effort would be spared to put the negotiations back on track.
"The progress achieved so far must be fully preserved. We cannot retreat," said a joint declaration issued at the first meeting of the India-Brazil-South Africa Dialogue Forum (IBSA) in Brasilia on Wednesday.
Prime Minister Manmohan Singh of India, Brazilian President Luiz Inácio Lula da Silva and South African President Thabo Mbeki attended the day long meeting that also included a business summit for top corporate leaders of the three nations.
"India, Brazil and South Africa recalled the outcome of the G20 meeting in Rio de Janeiro on Sep 9-10 and reiterated that they shall spare no effort to resume the negotiations sooner rather than later," the declaration said.
The three countries also called upon rich nations to reduce their expenditure on agricultural subsidies and said it was essential in order to provide an adequate and equitable basis to achieve the targeted results.
"As members of G20—a grouping whose identity is deeply linked to development dimensions of the Doha Round—India, Brazil and South Africa are united around the goal of putting an end to trade distorting policies," it said.
"The declaration also regretted the deferral of talks. This is a serious setback to the development promises of the Doha Round and disappointment for developing countries," it said.
"The level of ambition of the Doha Development Agenda must be maintained. The needs and aspirations of developing countries will only be met with an ambitious outcome to the Round that will reduce protectionism and end distortions."
First Published: Sep 14, 2006 17:17 IST