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Thursday, July 9, 2009

Will complete Doha Round by 2010: India agrees with G8

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In what would be a significant step forward, the G8 and the Group of Five (G5) developing countries — India, Brazil, China, Mexico and South Africa — will agree to commit themselves to conclude the Doha Round of talks in a year’s time by 2010.

In fact, India is expected to host a ministerial meet before the September G-20 Summit at Pittsburgh with a view to resolve existing differences.

They will also agree not to indulge in “competitive devaluation” of currencies during the economic crisis.

The almost-finalized draft of the joint communiqué, agreed after detailed discussions among officials today, states: “We are committed to reaching an ambitious and balanced conclusion to the Doha Development Round in 2010,

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