|HOME | BUSINESS | REPORT|
|August 17, 1999||
India urges G-15 to act against WTO's imbalances
Union Commerce Minister Ramakrishna Hegde today urged the G-15 nations to formulate strategies to pressurise the World Trade Organisation to implement the existing agreement, the mandated negotiations in agriculture and services, and also the work relating to mandated reviews to remove the imbalances in the WTO declaration.
Delivering his keynote address at the inauguration of the two-day G-15 ministerial meet in Bangalore, Karnataka, he said the preparatory process should address the concerns of those issues, which were at the top of the Geneva ministerial declaration and should form the core of the negotiating agenda.
Stating that the development aspect should be restored to its original position in the WTO agenda, he urged the trade ministers to analyse other issues which could not be taken on board and the proposals which needed further examination.
Hegde said as a major developing block, the G-15 should formulate a strategy for the WTO conference at Seattle. While the G-15 states were ready to consider the proposals of others, they should secure concessions in respect of their own propositions, he added.
Hegde said different G-15 countries were in various stages of development and India's reaction to the WTO proposals might differ from one to the other.
However, those on the inclusion of new issues like social clauses or governance, which were not related to trade, in the WTO should be rejected. The developed nations were trying to induct such issues to impede the free flow of trade in items of export interest of developing countries, he added.
He said the meet should also find ways to operationalise Article 7 and 8 of the WTO agreement, seeking to promote transfer and dissemination of technology and prevent abuse by right holders. It was necessary to recognise the sovereign rights of nations over their biological resources.
Hegde called upon the delegates to examine the WTO move to include new proposals and issues, based on their relevance to trade and implications.
Dr Ahmed Goweily, G-15 chairman and minister of trade and supply, the government of Egypt, in his address, called upon the delegates to take into account the interest and requirements of the countries, while formulating the strategy.
The G-15 countries would hold discussions on financial aspects during October in Egypt and the impact of globalisation, in November, before the Seattle conference.
Union Minister of State for External Affairs Vasundhara Raje said the present global economic situation warranted collective action and understanding on several issues of mutual concern, especially amongst developing countries. For several developing nations, the WTO implications were still not clear and it was time for introspection, she added.
The conference was attended by delegates from 17 countries, including seven trade ministers and two deputy ministers.
|Tell us what you think of this report|
BOOK SHOP | MUSIC SHOP | GIFT SHOP | HOTEL RESERVATIONS | WORLD CUP 99
EDUCATION | PERSONAL HOMEPAGES | FREE EMAIL | FEEDBACK