WTO talks: G-20, US, EU meet in Brazil
The meeting will be held in Brazil this weekend to explore the possibilities of reviving the stalled WTO talks.india Updated: Sep 06, 2006 16:03 IST
Trade ministers of G-20 bloc of developing countries, including India, as well as rich nations like the US, EU and Japan will meet in Brazil this weekend to explore the possibilities of reviving the stalled WTO talks.
"The G-20 meeting would be a stock-taking exercise meant to reaffirm the group's stand on key issues at multilateral talks," a senior government official said.
Commerce Minister Kamal Nath would lead the Indian delegation at the meeting, which would be held on September 9 and 10 in Rio de Janeirio.
The official said US Trade Representative Susan, EU Trade Commissioner Peter Mandelson and WTO Director General Pascal Lamy will also be present during the meet.
Their presence would give an opportunity to exchange views on the status of WTO negotiations and see if any forward movement was possible.
The official said any progress in WTO talks hinges on whether the US was ready to submit a revised offer for reducing domestic farm subsidies and scaling down its ambitions for market access in developing nations.
However, chances of any progress were remote until at least the US Congressional elections are over in November this year as US Administration would not come up with significant concessions till then, he said.
The G-20 conclave is the first meeting of the group since the collapse of the Doha round of talks in July this year.
The Doha Round was suspended after the six major members India, Australia, Brazil, the European Union, Japan and the United States failed to reach a consensus on tariffs and subsidies on agricultural and industrial trade.