The Confederation of Indian Industries on Sunday termed the draft Cancun Ministerial text released on Saturday by the World Trade Organisation as a 'disaster', saying it was completely in favour of developed countries and totally ignored the needs and interests of the developing ones.

In a statement, the CII said agriculture, which is the main issue at Cancun and which deeply concerns developing economies with their dependence on agriculture, has seen a draft text, which is 'totally unacceptable, insensitive and unbelievable'.

Ignoring all past discussions on the Singapore issues of investment, competition, policy, trade facilitation and transparency in government procedure, the draft negotiates only on the last two, the CII noted.