members should develop a single understanding of agriculture, NAMA &
services: Anand Sharma
BANGALORE: The outcomes of the WTO Ministerial Meeting in
Bali, Indonesia in December 2013 have resurrected the world’s confidence in
multilateral trade systems. Stating this in his address on ‘Entering into a New
Trade Era Post Bali’ on Day 2 of the three-day CII Partnership Summit 2014
being organised in Bangalore, Mr Roberto Azevedo, Director General, World Trade
Organisation, said the “Bali job” is not over. The focus now shifts to the
effective implementation of the decisions taken at the Ministerial such that it
leads to the conclusion of the Doha Round.
Mr Azevedo said the greater goal of the Bali Ministerial
was to improve the well being of millions of people around the world. He
pointed out that the Bali Agreement came through at a time when the world faces
high volatility in capital flows, high incidence of inflation in global
economies, and monetary and fiscal imbalances in many regions. He said that the
Trade Facilitation Agreement could bring about 10-15% reduction in export and
import transaction costs for countries, which will likely result in a
significant expansion of world trade.
Mr Azevedo also pointed out that the Ministerial focus on
trade facilitation is expected to add $1 trillion to world trade volumes and
create some 21 million jobs worldwide. He added that the Bali outcomes will
also trigger greater investments in trade-related infrastructure. He observed
that the agreements will also facilitate the realization of India-Africa
bilateral trade target of $100 billion by 2015.
Referring to the issue of non-binding rules in the WTO
text, Mr. Azevedo said they are meant to be worked upon in the post-Bali work
programme. He acknowledged India’s key role in bringing about a consensus on
food stockpiling in the developing countries to support their food security
Mr Azevedo called for a holistic approach to WTO
negotiations on agriculture, market access to non-agriculture goods, and
Mr Anand Sharma, Minister of Commerce & Industry,
Government of India, said in his address that the Bali Ministerial protected
the right of the developing countries to stockpile food. He said that the
prospect of $1 trillion addition to world trade volumes in the post-Bali period
was no mean achievement.
Mr Sharma said the Bali Ministerial underscored the
centrality of the WTO in the rules-based multilateral trade system. He
reiterated Mr Azevedo’s view that member countries need to develop a unified
view of the three pillars -- agriculture, market access to non-agriculture
goods, and services.
Mr Sharma said that trade facilitation is being driven by
new technologies which will make exports much more competitive.
Mr Mustapa Bin Mohammed, Minister of International Trade
& Industry, Malaysia, said he expected world trade volumes to increase
significantly in the wake of successes at the Bali Ministerial. He urged WTO to
focus greater attention on addressing the issue of non-tariff barriers (NTBs).
He also called for greater focus on accelerating SME business growth globally.
Mr S Iswaran, Minister in Prime Minister’s Office; Second
Minister for Home Affairs and Second Minister for Trade and Industry,
Singapore, said that that business should play a key role in promoting
multilateral trade systems.
Ms Arancha Gonzales, Executive Director, International
Trade Centre, Geneva, said that the emerging multilateral trade regime should
provide an enabling environment for SMEs around the world. Ms Gonzales pointed
out that the frontiers of global trade in goods and services is getting
increasingly blurred, more so on countries like India. This needs to get
reflected in the negotiations.
Mr Willam Danvers, Deputy Secretary General, Organisation
for Economic Cooperation and Development (OECD), France, said that India with
its strong IT and service capabilities is ideally placed to leverage the new
opportunities that come with greater integration with global value chains.
Mr B Muthuraman, Past President, CII and Vice Chairman,
Tata Steel Ltd, said that even as services gain greater focus in global
negotiations, member countries need to consider liberalising movement of people
Mr Dhruv M Sawhney, Past President, CII and Chairman
& Managing Director, Triveni Engineering & Industries Ltd, moderated