The Union Minister for Commerce, Industry and Textiles Shri Anand Sharma, in a frank exchange on roadmap to Bali Ministerial with key Ambassadors to WTO in Geneva today, made a strong pitch for a balanced package for the Ministerial which has the interest of Least Developed Countries (LDCs) and developing nations at its core.

Shri Sharma said that while India is not opposed to Trade Facilitation, there is a need for an internal balance in the Trade Facilitation proposal with adequate special and differential treatment for developing countries and LDCS and Small and Vulnerable Economies. He also argued for providing technical and financial support to such economies so that they benefit from trade facilitation. The Minister also supported a LDC Package including Duty Free Quota Free market access, which countries like India and China have already implemented, must be part of the Bali package.

Underscoring the fact that emerging economies have to carry a disproportionate burden of poverty and huge income disparities Shri Sharma said that they therefore merit a special and preferential treatment. The Minister mentioned that India strongly endorses G-33 proposal for food security and flexibility in their public stock holding operations for public distribution system. The interest of subsistence farmers in developing and poor countries have to be recognized and protected, said Shri Sharma.

Taking note of emerging plurilateral arrangements, the Minister strongly emphasized the need to uphold the centrality of multilateralism and WTO as an institution for creating a rule-based global trading regime.

DS/RK

(Release ID :94573)

Trade facilitation must include special and differential treatment and an LDC package to ensure equitable benefits. Demand for internal balance in the Trade Facilitation proposal requires special and differential treatment for developing countries, LDCs and small and vulnerable economies, coupled with technical and financial assistance. The statement urges inclusion of an LDC Package with Duty Free Quota Free market access in the Bali outcome, endorses G-33 flexibility for public stockholding to protect subsistence farmers, and stresses upholding multilateralism and the WTO rule-based regime.