New WTO draft less favourable

A fresh formula for tariff reduction in non-agriculture commodities is likely to be introduced by the chairman of the negotiating group on market access next week.

The new formula is expected to be less favourable for India as the 8216;8216;less than full reciprocity clause8217;8217; built into the first formula may get diluted.

Speaking at a seminar on 8216;Development in the Doha development round8217; organised by the Research 038; Information System for non-aligned and other developing countries8217; here, commerce additional secretary S.N. Menon said the new formula was expected to be tabled next week when the WTO director general starts the series of sectoral meetings.