21 September, 2020

'The Elephants Have To Lead'

'The package is at risk, failure of talks will hit the vulnerable countries the most'

'The Elephants Have To Lead'
outlookindia.com
-0001-11-30T00:00:00+05:53
WTO director general Pascal Lamy feels India, as a big elephant of trade, has responsibility to contribute to the negotiations, and view the scene in its entirety.

How will the collapse of the Doha Round impact the multilateral trading system? Is there a hope for a deal in the immediate future?
The round has made substantial progress. What's on the table is potentially worth two to three times more than previous rounds. This package is now at risk. Failure would be a blow to the development prospects of the more vulnerable members. It would also send out a strong negative signal for the future of the world economy at a time of increased geopolitical instability and of danger of a resurgence of protectionism. As I told our members, there are no winners from this suspension—only losers. I hope this timeout in the negotiations helps members to review their positions and numbers. I am pursuing contacts with them and will do everything to keep up the pressure for the political movement to permit the negotiations to resume.

Is there an effort to pressure...

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