Indian Finance Minister Yashwant Sinha called on developed countries Monday to fulfill their existing market liberalization commitments before thinking about drawing up new ones.
"Let the developed countries open up their markets before beginning a new round of trade talks," Sinha told AFP on the sidelines of the national convention of India's ruling BJP party.
India has stiffly resisted US and European pressure to join in a new round of World Trade Organization (WTO) talks, with New Delhi arguing that developed countries have yet to fulfill their market-opening obligations under the previous Uruguay Round.
"Unless the issues we raised in Seattle are resolved, India will not agree to any new round of trade talks," Sinha said, adding that discussions were continuing in Geneva to resolve outstanding issues.
"Our ambassador in Geneva is participating in the discussions, but nothing concrete has emerged. I cannot say if the issues will be resolved to our satisfaction."
India has worked hard to build a consensus among developing nations to take on the WTO economic giants over the issue of fresh trade talks.
"Every country in the world knows that unless we consent there cannot be a new round," Sinha said -- NAGPUR, India (AFP)
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