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India will not trade farmers' interests for Doha deal: Minister
India will not sacrifice the interests of its millions of subsistence
farmers to clinch a deal in global trade talks, the country's trade
minister warned.
Trade Minister Kamal Nath's strong stand came after the head of the
World Trade Organisation Pascal Lamy declared late last week he hoped to
finally secure an agreement in the Doha round of international trade
negotiations by the end of 2008 - four years later than initially
scheduled.
While admitting that the United States, a key player in the talks,
has "sensitivities" in agriculture, Nath said, "We in India also have
sensitivities of 650 million subsistence farmers" and will safeguard
their interests at all cost.
"We cannot have a subsidised market access which destabilises our
farmers," Nath told 750 delegates of the India Economic Summit organised
by the World Economic Forum in the Indian capital late on Sunday.
"We cannot negotiate subsistence" in the Doha development round -
billed as a once-in-a-generation chance to raise the standard of living
of millions of poor people. "We have already told the United States that
if they commit on lowering their (agricultural) subsidies by just one
dollar ... the deal is acceptable to us," he said.
"But I have not got any response so far," said Nath, a vociferous
critic of what he says are efforts by the United States and other
developed countries to perpetuate distortions in the trade talks.
The United States says it has made concessions on its
trade-distorting farm subsidies and that tougher demands could torpedo a
deal but developing nations say the US moves are not enough.
Developing and emerging nations are seeking cuts in farm subsidies
and on import tariffs for farm produce, particularly by the United
States, while rich countries want more access to markets in poorer
economies for industrial goods.
Agriculture comprises around eight percent of total global exports
but it is crucial to unblocking the Doha round aimed at boosting the
world economy and allowing poor countries to use trade as an exit from
poverty.
NEW DELHI , AFP
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Japanese finance minister wants a faster rising Yuan
The Japanese finance minister has added his voice to mounting
international pressure calling on China to speed up reform of its
tightly controlled currency, the yuan, the Wall Street Journal said
Monday.
"As for the Chinese yuan, I asked if they could take steps to let it
rise at the fastest possible pace," Finance Minister Fukushiro Nukaga
said after economic talks between the two nations on Saturday. Nukaga's
comments - the most direct by any Japanese official so far - reflect
similar pressure from all G7 leading industrialised nations on China's
currency policy, the newspaper said.
Previously the Japanese finance chief had kept largely quiet on the
currency issue, even after the G7 as a group demanded faster yuan
appreciation at its October gathering.
At last week's EU-China summit in the Chinese capital, Europe also
took a much tougher tack, demanding faster appreciation and citing an
unacceptable increase in the trade gap.
During the Sino-Japanese economic talks the Chinese side said they
will work to increase the currency's "flexibility," according to Nukaga.
BEIJING, Monday, AFP |
