New Delhi, May 14 (ANI): Commerce Secretary G K Pillai said on Thursday that the dilly-dallying over the Doha round talks will further hinder prospects of global trade.
"They (WTO) are now saying that we now need a completely new approach. After eight years of Doha, they want negotiations. A new approach could take another five years. So the choice is you want to raise new issues and delay it and then reopen the whole thing after five years," Pillai said.
Addressing a conference hosted by the Federation of Indian Chambers of Commerce and Industry (FICCI) here, Pillai spoke on the level of uncertainty looming over the Doha round slated for January 2010 because of the US Trade Representative (USTR) suggestion of a totally 'new approach'.
The theme of the conference was 'Doha Round of Negotiations in World Trade Organisation (WTO): Taking stock and the way ahead'.
The new approach, Pillai said, may re-open negotiations on agreed issues and raise new issues such as labour and environment.
"It is not just one or two issues but there is a whole round of issues which need to be discussed at the Doha round. They are saying that the US has given too much in the negotiations and got too little in return," the Commerce Secretary said.
The Obama administration is mulling over how to proceed with the long-running Doha round of world trade talks, which the US farm groups and manufacturers have criticized.
The USTR had complained that the USA was giving too much in negotiations and getting too little in return. (ANI)