New Delhi: Trade ministers from key WTO member countries, including India, scheduled to meet at Davos in Switzerland on January 28, are expected to discuss worrisome economic scenario and its impact on the global trade.
The meeting, to be also attended by Commerce and Industry Minister Anand Sharma, would be hosted by the Swiss government on the sidelines of the annual event of the World Economic Forum.
Director General of the World Trade Organisation Pascal Lamy would also be attending, WTO spokesman Keith Rockwell said in an e-mail response. US Trade Representative Ron Kirk and EU Trade Commissioner Karel De Gucht are also likely to be present there.
While the ministers are expected to underscore the need for renewing interest in the stalled Doha Round of global trade negotiations, they would also be discussing the threat of protectionism in the backdrop of global slowdown.
India, along with several other developing countries, has been raising concerns over rising trend of protectionism in some front-ranking developed countries.
A latest report from the United Nations has also expressed apprehensions over global economy facing increased trade protectionism. It said the political will to resist such measures is facing rising pressure.
"...Given the present international economic environment, there is still a danger that more countries will enhance protectionist measures, especially non-tariff measures (NTMs), should political emotions dull the memories of the damaging effects of past...policies," the report said.
On the contentious 10 year-old Doha Round, suggestions have been floated whether the WTO member countries should settle for "smaller packages", based on what has been agreed upon thus far.
The WTO tenet of 'all or nothing' has not worked since there is a wide divergence between the rich and the developing countries on the level of protection and opening of the global trade.
indiatimes.com
The meeting, to be also attended by Commerce and Industry Minister Anand Sharma, would be hosted by the Swiss government on the sidelines of the annual event of the World Economic Forum.
Director General of the World Trade Organisation Pascal Lamy would also be attending, WTO spokesman Keith Rockwell said in an e-mail response. US Trade Representative Ron Kirk and EU Trade Commissioner Karel De Gucht are also likely to be present there.
While the ministers are expected to underscore the need for renewing interest in the stalled Doha Round of global trade negotiations, they would also be discussing the threat of protectionism in the backdrop of global slowdown.
India, along with several other developing countries, has been raising concerns over rising trend of protectionism in some front-ranking developed countries.
A latest report from the United Nations has also expressed apprehensions over global economy facing increased trade protectionism. It said the political will to resist such measures is facing rising pressure.
"...Given the present international economic environment, there is still a danger that more countries will enhance protectionist measures, especially non-tariff measures (NTMs), should political emotions dull the memories of the damaging effects of past...policies," the report said.
On the contentious 10 year-old Doha Round, suggestions have been floated whether the WTO member countries should settle for "smaller packages", based on what has been agreed upon thus far.
The WTO tenet of 'all or nothing' has not worked since there is a wide divergence between the rich and the developing countries on the level of protection and opening of the global trade.
indiatimes.com
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