Economy

xchrom

(108,903 posts)

57. India facing trade 'disaster

Mon Dec 19, 2011, 01:00 PM

Dec 2011

http://www.atimes.com/atimes/South_Asia/ML20Df02.html

GENEVA - As the Eighth Ministerial meeting of the World Trade Organization (WTO) kicked off in Geneva last week, a group of non-government organizations exposed the devastating potential of a free trade agreement currently being negotiated between the European Union and India. If passed, they say the deal would make a mockery of all WTO rules and regulations.

A recent impact assessment on the right to food of the EU-India FTA, researched and compiled by leading advocacy groups including the Delhi-based Third World Network (TWN), the Indian non-governmental organization (NGO) Anthra and Germany charities Misereor, Glopolis and the Heinrich Boll Foundation, concluded that the proposed deal would violate the right to food of a vast segment of the Indian population, particularly those who

rely on the poultry and dairy sectors.

Additionally, the zero-tariffs clause of the free trade agreement (FTA) could lacerate the retail sector by stripping small retailers of any protection against corporate giants.

Having sat on the table since 2007, the agreement could be sealed as early as next year, an outcome that many experts see as "disastrous" for the local economy.

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