October 19, 2010 10:15 AM

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India to take initiative in conclusion of multilateral trade deal at G-20 Summit

Ahead of G-20 Summit, India is taking initiative to infuse urgency in concluding long-drawn Doha talks for reaching a multilateral trade deal. Commerce and Industry Minister Anand Sharma is leaving for Geneva today and will hold a series of meetings with WTO officials including Director General Pascal Lamy. Senior US trade officials, including chief negotiator for agriculture, Isi Siddiqui, had recently visited India and met Commerce Ministry officials as well as industry representatives. Developed and developing economies have locked horns on the level of opening and protecting markets through tariff cuts and subsidies, mainly in agriculture. The issue of protection to poor farmers in developing countries in the event of open trade has remained a priority for India. However, the rich nations, particularly the US have been insisting that emerging economies like India, China and Brazil should open their markets. Siddiqui had indicated the Doha negotiations, which are running into the tenth year, may stretch into 2012. India had made efforts in September 2009 to re-energise the Doha talks by convening a ministerial meeting in New Delhi.

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