Industry & Economy
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WTO
CII for lower tariff cuts by developing nations
Our Bureau
New Delhi
,
Dec. 6
CLOSE on the heels of the Hong Kong Ministerial of the World Trade Organisation, the Confederation of Indian Industry released its position paper on Monday, supporting the proposal for tariff reduction put forward by Argentina, Brazil and India (A/B/I) in April this year.
The chamber disapproved the simple Swiss formula for reduction of tariffs because this would lead to higher percentage of cuts by developing country members when compared to developed countries.
Even in the Girard type formula put forward in the A/B/I proposal, the chamber would like modifications to ensure that the percentage of cuts for the developing countries is lower than that for developed countries.
The chamber held out that developing countries like India should have longer implementation periods for cutting tariffs and should be subjected to lower percentage cuts in tariffs when compared to developed country members.
It also said that the developed countries should make some real market access commitments from developed country members in areas of interest to developing countries. On the services front, the chamber would like the visa regulations to be eased by the developed countries for trans-border movement of professionals. Greater emphasis needs to be laid on mutual recognition of professional degrees by countries, the CII said.
The chamber also wants more access for independent professionals and not just inter-company transfers in this regard.
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