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Money > PTI > Report November 14, 2002 | 2004 IST |
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India moots monitoring mechanism on WTO issuesIndia on Thursday mooted a monitoring mechanism to ensure that obligations of WTO member countries were not detrimental to them and said negotiations should be undertaken on a broad front to take fully on board interests of developing countries. "There was a need to ensure that the process of ongoing multi-lateral negotiations is carried forward on a broad front to ensure that interests of developing countries like India are fully taken on board and credibility of the multi-lateral trading system is re-established," Commerce and Industry Minister Arun Shourie said in Sydney. He suggested setting up of a monitoring mechanism to ensure that obligations taken by member countries do not act to their detriment in any manner. Participating in interactions with the trade ministers at the informal WTO trade ministers meeting, Shourie said: "We must not move away from the core of the Doha Declaration which is essentially trade and development and not issues which might be extraneous to this core such as labour, environment and the like." He also put forward the suggestion that in the area of technical assistance, the multilateral trading system should focus not only on capacity building to enable developing country members to participate effectively in negotiations, but also actively help them in overcoming barriers to trade. During the informal exchange of views, WTO Director General Supachai Panitchpakdi gave the trade ministers an overview of the post-Doha scenario and an assessment of the priorities and challenges on the road to the next ministerial at Cancun, an official release said. The ministers exchanged views on a broad range of issues relevant in the context of the Doha negotiations, particularly TRIPS and public health and issues relating to implementation and special and differential treatment which are of significance to the developing countries. Trade ministers of about 25 countries are participating in the two-day informal meeting including India, Brazil, US, EU, China, Japan and Kenya, it said.
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