Developed countries imposing unfair tariffs, says Sinha

By Our Special Correspondent

NEW DELHI, DEC. 6. The Finance Minister, Mr. Yashwant Sinha, today called upon the international community to ensure that the benefits of globalisation reach the poorer sections of the society.

Pointing out at the lack of equity in economic policies of the developed countries, Mr. Sinha said such countries collect tariffs in excess of $ 50 billion annually on account of imports from developing countries which is higher than the total quantum of developmental assistance that the developing countries receive.

``Goods from developing countries attract tariffs which are four times higher than those applicable to goods from the developed countries'', he said at a meeting on `Globalisation and Democracy' jointly organised by the Inter-Parliamentary Union and the FICCI. ``The total annual subsidy extended by the industrialised countries for the agricultural sector was almost twice the amount of total agricultural exports of the developing countries put together,'' Mr. Sinha said.

At another session of the conference, the former Deputy Chairman of Planning Commission, Mr. Pranab Mukherjee, said the developing countries accounted for a large proportion of the global gross domestic products and hence it was important that the problems of such nations be addressed. He pointed out that in the absence of economic resurgence, there would be serious constraints for development within the developed countries.

In his presentation, the Secretary in the Prime Minister's Office (PMO), Mr. N. K. Singh, said that the domestic industry in developing countries like India had to equip itself better to fight anti-dumping cases. The domestic industry will also have to establish a proper database to effectively contest cases of dumping.

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