At WTO, India for 'unbiased' assessment of trade policies -TCA Sharad Raghavan
India is trying to rally the support of other developing countries in the World Trade Organisation to reform the “biased” system of assessing a country’s services trade policies, according to an official closely associated with the development.
The existing system, developed by the Organisation for Economic Co-operation and Development (OECD), has significant quantitative and qualitative flaws, said Manoj Pant, Director of the Indian Institute of Foreign Trade, and author of the study commissioned by the Ministry of Commerce. Further, it is biased towards developed countries, he said. The study also found that the OECD method resulted in several counter-intuitive results as compared with the real policies implemented by the countries in question, such as ranking India very high in terms of restrictiveness.
India has come up with a “better and more reliable” mechanism to measure restrictiveness in the services trade, and has approached China, Brazil, Indonesia, Turkey and South Africa to highlight the importance of the new system. Representatives of all these countries were in New Delhi on Monday and Tuesday for a WTO meeting.
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