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May 30, 2006 17:45 IST
With global trade talks struggling to make some headway, the US on Tuesday declined to improve its offer for reducing farm subsidies and instead sought greater market access in other developed countries such as the European Union.
"Our offer in October last year has been the most ambitious proposal that involved substantial cut in domestic support...We are still awaiting meaningful response from other developed countries," Deputy US Trade Representative Karan Bhatia told reporters in New Delhi.
Bhatia's statement comes a day after EU Trade Commissioner Peter Mandelson called on the US to rescue the trade talks by matching its offers of farm spending cuts and improve its October 2005 offer.
The Doha round of trade talks must be completed by December, but talks are stuck due to lack of convergence among major trading nations on agriculture and industrial goods.
Bhatia, who is in New Delhi with a US delegation to attend a meeting of the US-India Trade Policy Forum, said World Trade Organisation talks were at a very important juncture, although there had been little progress in the past few months.
"All countries must do more for an ambitious outcome... to meaningfully open market and allow greater market access to both developing and developed countries," he said, and sought greater market openings in rich nations like the EU and Japan.
The scenario at WTO was not discussed in detail during the meeting with Commerce Minister Kamal Nath on Monday, but the two countries must work together in the matter, he said.
"The successful outcome of the Doha round of trade talks would depend on whether it contributes to progress in developing and least developed nations," he said. Do you want to discuss stock tips? Do you know a hot one? Join the Stock Market Investments Discussion Group
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