New Delhi: India and Brazil have said a prompt breakthrough in the global trade talks would send a clear signal about the political will of governments to collectively meet risks to the world economy from the financial crisis.
In a joint statement on Tuesday, Indian Trade Minister Kamal Nath and Brazil’s External Relations Minister Celso Amorim said it was still possible to conclude modalities in the trade talks, and reaffirmed their commitment to such an outcome.
“Both the ministers exchanged views on possible trade impacts of the current international financial crisis,” the statement said.
India and Brazil are key members of the Group of 20 nations, and have been leading the developing countries charge at the trade talks.
The ministers welcomed the resumption of the multilateral process and expressed their support to the programme devised by heads of the agriculture and non-agricultural market access (NAMA) groups.
“They emphasised the need for a prompt breakthrough in the Doha Development Agenda negotiations, which would be an unequivocal sign of the political will of governments around the world to act collectively to address the present challenges and risks to the global economy,” the statement said.
Differences between the United States and developing country food exporters on the one hand and India and other big developing country importers on the other torpedoed talks among trade ministers two months ago.
Since then official-level negotiations on farm and opening up trade in industrial goods have resumed.
Both countries expressed concern with late attempts in the failed round of talks to increase demands on developing countries in the negotiations, and called for maintaining the coordination of the two negotiating teams in the discussion in Geneva.