The US has expressed the hope it can find common ground on trade issues with India and other developing countries on controversial trade issues like the Doha round subjects at the WTO.
Jeff Zients, Director of the National Economic Council told the PTI that there is the need for enhanced cooperation at global economic platforms. Citing the WTO, Mr Zient asserted that the future looks bright for the WTO.
Mr Zient will be in India next week for the second India -US Strategic and Commercial Dialogue. Both countries are in an effort to raise their trade engagement to a higher level because of overall warmth prevailing between them.
The new soothing view from the US on evergreen dispute issues at WTO can be seen as preparatory conciliation attempt from Washington for the coming trade discussions.
US and India are on the opposing side on WTO issues. Pending Doha Round issues and the tussle at the Nairobi dominates the international trade relationship between the two. On the bilateral trade front, the Intellectual Property Rights interpretations of the two sides differs. US is demanding advanced level of IPRs enforcement based on its perceptions.
The Director also observed that WTO’s agenda has still relevance with respect to issues such as digital economy and interests of small and medium enterprises.
But both these areas are the new twenty-first century issues brought by the developed countries. They are opposed by the developing world led by India because of non-settlement of Doha issues.