SENSEX NIFTY
Mar 31, 2011, 08.28 AM IST | Source: PTI

US should move effectively to conclude Doha Round: Bhagwati

World renowned trade economist Jagdish Bhagwati on Wednesday said unless the United States moves effectively, the World Trade Organisation (WTO) talks to reach Doha deal would be difficult to achieve in 2011.

US should move effectively to conclude Doha Round: Bhagwati

World renowned trade economist Jagdish Bhagwati on Wednesday said unless the United States moves effectively, the World Trade Organisation (WTO) talks to reach Doha deal would be difficult to achieve in 2011.

The US and the other developed countries want more market access in developing nations, including in India. The U.S. is also demanding that developing countries should contribute more for conclusion of the Doha deal.

”...unless the US moves effectively, it is going to be very difficult to implement this fix time...,” Bhagwati said here at a FICCI seminar on WTO.

G20 leaders have said that there is an opportunity for the 153 WTO members to conclude the talks this year.

He said that delay in concluding the Doha Round of talks on time would “hurt” the WTO.

”...ultimately the onus lie on finding out a way in which we get (the US President Barack) Obama to move...,” he added.

Doha round of talks under the aegis of the WTO started in the Qatari capital in 2001 for achieving a global trade deal, but a breakthrough has not emerged as yet.

Differences between rich and developing nations have been a stumbling block in the conclusion of the talks. India and other developing nations are defending their agricultural markets to protect millions of subsistence farmers from easy imports that may result from the multilateral agreement.

"..it just can not go like that because we will loose faith in it...it will also affect the health of the organisation,” he said.

WTO Director-General Pascal Lamy on Tuesday also said: “WTO members risk failing to deliver the breakthrough needed in April in order to conclude the Doha Round negotiations this year, jeopardising the world economy and the most vulnerable countries”.

ADS BY GOOGLE

video of the day

Explore Moneycontrol

Copyright © e-Eighteen.com Ltd. All rights reserved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express written permission of moneycontrol.com is prohibited.