India, US Bring Down WTO Mini-Ministerial
The meeting of the World Trade Organization (WTO) at Doha ended with no result on Tuesday. The meeting was attended by trade ministers of India, Brazil, the EU, the US, Japan, Australia and China. Commerce minister, Mr. Kamal Nath attended the Doha meeting on the behalf of India.
The stalemate can not be resolved on the issue of farm subsidies, special safeguard measures (SSM) and other export and import laws. An Indian official said that India is not responsible for talks break. The country wants to protect the interest of its poor farmers.
The main issue between India USA is the slab of import tariffs. The US wants increase in tariff level to realize the concept of free market. India considers it against the interests of farmers as most of the farmers in developing countries are already facing problems and they can not get adequate benefits from the proposed export cap.
The cotton subsidies issue of the US was also unresolved in the meeting. The group of four African countries urged US to reduce cotton subsidy. The Indian commerce minister alleged that US is seeing only economic interests while India wants to secure the interest of its farmers.
The Geneva conference remained failed to build consensus on farm subsidies and industrial tariffs.