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Money > Business Headlines > Report February 26, 2001 |
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India seeks re-imposition of QRs at WTO meetIndia has sought special treatment for developing countries in the World Trade Organisation (WTO), including a provision to reimpose Quantitative Restrictions (QRs), while asking industrialised nations to make substantial cuts in tariffs, export subsidies and domestic support. Raising livelihood concerns at the ongoing review meetings on Agreements on Agriculture (AoA) at the WTO headquarters, Geneva, India also suggested that some specific measures under a ''Food Security Box'' be allowed for developing countries, Agriculture Minister Nitish Kumar said at a function organised by National Agricultural Co-operative Marketing Federation (NAFED) in New Delhi on Saturday evening. India's stand has received overwhelming support from developing countries, the minister said. However, New Zealand, the US and the EU joined in criticising the proposal, saying developed countries should not be alone in liberalising their agricultural regimes. Elaborating on India's proposals, the minister said: ''we have demanded that separate safeguard mechanism for imposing QRs under certain circumstances should be available to all developing countries irrespective of tariffs in the event of a surge in imports or a decline in prices for ensuring food and livelihood security of their people.'' Besides, India had also sought framing of an appropriate formula with a cap-on tariff bindings to effect substantial reduction in all tariff levels, including peak tariffs and tariff escalations in developed countries. Further, Tariff Rate Quotas (TRQs) and export subsidies on all agricultural products should be abolished, Nitish Kumar said. In the second week of February, WTO members met informally, ahead of the March 26-28 meeting on agriculture negotiations, to discuss the next phase of talks which is likely to discuss in-depth the proposals tabled by various countries. Review of India's proposals will continue till March 22-23. UNI |