India cautions rich world against protectionist steps

London/Paris, June 26 (PTI) India has conveyed to the
developed world that resorting to "protectionist tendencies"
on their part would harm the interests of developing nations.

Addressing the Organisation for Economic Co-operation and
Development (OECD) Ministerial Meeting at Paris Thursday,
Commerce and Industry Minister Anand Sharma said
the interests of the developing countries would be damaged if
the rich and industrialised nations resorted to protectionist
measures in the difficult economic environment.

Reaffirming India's commitment to successfully concluding
the Doha Round of World Trade Organisation (WTO) negotiations,
Sharma stressed the need for a "rule-based multilateral
trading system which is fair, equitable and addresses
aspirations of developing countries".

He also held bilateral discussions with US Trade
Representative Ron Kirk, EU Trade Commissioner Baroness
Catherine Aston, Canadian Trade Minister Stockwell Day and WTO
Director General Pascal Lamy.

Protectionist tendencies have been on the rise in the
developed countries with the deepening of the recession in
several nations like the US since September last year.

On the margins of the meeting, IBSA (India, Brazil and
South Africa) Trade Ministers said in a joint declaration that
aspirations of the developing countries must remain at the
forefront of the Doha Development Round.

The declaration said that it would be unrealistic and
unreasonable to expect further concessions from the developing
countries in the present economic crisis.

It was Sharma's third major engagement with the key trade
ministers after he took charge as Commerce Minister last
month.

Sharma had interacted with them at Bali and Washington on
earlier occasions on multilateral trade issues, mainly
stressing the urgency to reach the Doha trade deal that can
unleash global trade opportunities, estimated to be USD 150
billion. PTI