NEW DELHI, Dec 7: India said on Wednesday a deal at the World Trade Organization (WTO) meeting in Hong Kong this month was unlikely given the deadlock over agricultural and other trade barriers.
“It is believed that full modalities in agriculture and other goods would not be possible in Hong Kong and there may be need for another ministerial meeting early next year,” Commerce Minister Kamal Nath told parliament’s upper house.
India, a leader among developing nations, wants rich nations to eliminate agriculture export subsidies and drastically cut domestic payments to farmers. It also wants a set of rules that minimize the chances that millions in poor nations will lose their land and livelihoods as the result of a trade deal.
Rich countries have offered to cut billions of dollars in subsidies to their farmers if India and other poor developing countries agree to slash tariffs on food imports. The minister said the differences between various nations on issues such as agriculture were too wide to be narrowed down so quickly.—-AFP
