NEW DELHI, June 5: New Delhi has expressed concern over new trade barriers being imposed by developed countries and said it would raise the issue in the World Trade Organisation (WTO). Commerce minister Ramakrishna Hegde told the Lok Sabha the government had taken serious note of the increasing propensity towards erecting new trade barriers by the developed countries.Delhi's strategy of encouraging other countries to remove trade barriers consists among other things of raising the issue in the appropriate WTO committees, he said in a written answer.
No agreement has been reached between India and the United States to settle phasing out of quantitative restrictions, he said.
Meanwhile, the commerce ministry in a press note, pointed out that consequent upon the first written submission made by the US on March 31, 1998 to the dispute settlement panel of the WTO in connection with India's dispute on QRs on imports maintained for balance of payments purposes, the government made its counter submission tothe panel on May 1 last.
Broadly, India has submitted to the panel that the time-schedule for removal of its import restrictions over six years, in three consecutive phases of 3 years, 2 years and one year starting April 1, 1997 is consistent with Article 18-2 of the GATT 1994; import restrictions satisfy the requirements of Article 18-B of the GATT; the US, and not India, must assert and demonstrate that India's time schedules are inconsistent with India's obligations under Article 18-2 of GATT.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
