Commerce Minister Kamal Nath has said the Doha Round of world trade talks is moving towards conclusion. "It is closer than ever before to being closed," he said.

Speaking at the Fortune Global Forum, a gathering of top-notch Fortune 500 CEOs, Nath said: "I believe the Doha Round can be closed successfully by respecting each other’s sensitivities. I understand the United States has sensitivities on certain issues. On the other hand, a large number of developing and vulnerable economies also have some concerns that need to be respected."

US treasury secretary Henry Paulson, who was also addressed the forum, said the Doha Round is the single most important issue on which both US and India can work together.

"Advanced developing countries like India, Brazil and South Africa are important for the round. We have seen that in India de-regulated sectors like airlines and telecom are doing very well. Granting extra market access in industrial goods (NAMA) will benefit developing countries like India," Paulson added.

Mr. Divya Aggarwal

Money Management Consultants Ltd

Senior Copy Editor, Money Management Consultants Ltd
New Delhi, India

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