The Hindu Business Line : Australia keen to work with India on key WTO issues

AUSTRALIA is looking forward to working closely with India in negotiating and concluding the Doha round of talks. As an influential developing country leader in the WTO, India is well placed to play a key role, the Australian Minister for Trade, Mr Mark Vaile, said here on Wednesday.

Addressing a luncheon meeting organised by the Confederation of Indian Industry (CII), he stressed on the need for India and Australia to come together on key issues in the WTO.

The Minister added that India and Australia have common interests in a number of areas of negotiation including cutting back on high levels of agricultural subsidies and border protection by developed countries. Mr Vaile added that the two countries share an interest in guarding against the use of legitimate public objectives by some countries or blocs of countries - such as environmental protection - to justify disguised barriers to trade. He said that both the countries could work together in these areas and across the negotiating agenda to help improve understanding and build the momentum for concluding the round.

The Minister emphasised that real gains in market access is the only way of ensuring the Doha Round meets the need of all WTO members and delivers the development dividend that developing countries are entitled to expect.

"Indeed, real market access gains - especially to global agricultural markets - is arguably the single greatest contribution the Doha round can make to alleviating poverty in the developing world," Mr Vaile said.

However, the Minister added that the concerns of the developing countries extend well beyond agriculture - although agriculture offers the most immediate gain for their economies. But improving market access for their industrial products and increasingly, for services products, will also be important for their long-term development prospects.

On the issue of economic reforms in India, the Minister said that Australia has direct interest in the reforms process and specified that Australia hoped that Indian tariffs on wool would be reduced. Such a move, he said, will boost Australian exports to India and in turn improve the condition of Indian wool garment manufacturing and export industry.

Article E-Mail :: Comment :: Syndication

Stories in this Section
State ranked 4th in investment

States to raise Rs 14,151-cr loans from debt markets

`Security may be the next trade barrier'

`Nimesulide safe for children'

`Incremental' gas sold to power plants — GAIL to charge market rates in AP

APTransco projects revenue increase; no retail tariff hike

Duty-free hot-rolled stainless steel coils — Salem Steel wants mint usage norms fixed

Chamber wants entertainment tax in North lowered

Textile sector urged to gear for post-MFA era

Neglect of SSI sector flayed

Curb borrowing for unproductive use: Assocham