RBI Staff Studies - Doha Round of Multilateral Trade Negotiations: Critical Issues in Trade Development pertaining to India - ಆರ್ಬಿಐ - Reserve Bank of India
RBI Staff Studies - Doha Round of Multilateral Trade Negotiations: Critical Issues in Trade Development pertaining to India
The Reserve Bank of India today published its Staff Study entitled ‘Doha Round of Multilateral Trade Negotiations: Critical Issues in Trade Development pertaining to India’. The Staff Study, authored by Ms. Monika Kathuria, examines the major issues that are delaying the conclusion of Doha Round and the dissenting views of WTO member countries, in particular of India, on those issues. Each member country of the World Trade Organisation (WTO) has to ensure that its domestic policies are framed in conformity with the agreements it has signed and the commitments it has made in the WTO. It is, therefore, necessary to understand the implications and complexities of the agenda issues before signing the agreements. The present study provides general understanding of the functioning of the WTO and the critical issues involved in Doha Round of negotiations. In this context, the study is relevant for policy makers, researchers, academicians and general public. The study presents a theoretical rationale behind the establishment of a rule-based multilateral trading system that aims at creating an environment where international trade can be carried out as freely and fairly as possible. This is followed by a snapshot of the evolution and structure of the WTO along with a brief description of its functions and various rounds of trade negotiations held under GATT and WTO. The primary focus of the study is on Doha Round, which signalled a significant policy shift in WTO, drawing attention to the special needs and interests of developing member countries, particularly the least developed ones. This round was expected to play a developmental role for these member countries. However, it has already taken more than eight years and has faced stiff resistance from developing member countries. The study analyses the reasons for this and states that weaknesses, such as, unbalanced bargaining power, lack of technical expertise in developing countries, frequent changes in representator, hamper the negotiations at WTO. Arguing that efforts should be aimed to conclude the Doha Round as early as possible and that it should not be at the expense of the development aspect, the study recommends the following policy stance:
Ajit Prasad Press Release : 2009-2010/1585 |