India has expressed disappointment at the latest document by World trade Organisation (WTO) on rules pertaining to issues like anti-dumping and fishing subsidies.

The latest rejection of yet another WTO text comes in the back drop of similar reaction by the country towards the agriculture and non-agricultural market access texts released earlier this month.

"Despite the near unanimity of the entire WTO membership to have a revised text on Rules before moving into a horizontal process on agriculture and National Agri- Marketing Association (NAMA) modalities, we are deeply disappointed to note that one major developed country has again succeeded in holding up the process because of its desire to protect its WTO inconsistent measure of zeroing  in anti-dumping," Commerce Minister Kamal Nath said in a statement today.

Zeroing pertains to a set of rules on anti-dumping for imposing counter measures on imported goods that are priced below their value in the originating country. Practiced by United States, zeroing has been opposed by all WTO members.

In a strong rebuff, Nath said the latest document by Uruguay's WTO ambassador Guillermo Valles Galmes,( who chairs negotiations on trade rules) favours "one major country". Nath was referring to United States.

Golmes had come out with a draft document on Rules 30 November, 2007. Countries like India had rejected it and demanded a revised text. This was because proposals in the draft text on rules  had adverse impact on livelihood security of thousands of vulnerable small fishers of the country.

In the statement, Nath questioned the seriousness of the WTO officials in concluding the round by December, 2008.

"The issue of Fisheries Subsidies is on exactly the same footing as  Special Products in Agriculture, because both seek to protect the livelihood and food security of the most vulnerable sections of the population." Nath said, adding that he did not see much chance of moving into a horizontal process with the current proposals on Rules.

BS Reporter / New Delhi May 29, 2008, 19:50 IST

Source: www.business-standard.com