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Duty free access to least developed countries

New Delhi, Mar 13 (UNI) India needs to move fast on the package for duty-free quota-free (DQFQ) access to the least developed countries (LDCs) as it is an important element of the Doha mandate and the Hong Kong Declaration.

Stating this; Former Trade and Industry Minister, Zambia, Dipak Patel who chaired the session on '' Special Measures for Less Developed Countries'' said the intent needs to be translated into action, and delays will only skew the southern solidarity in the WTO process.

Mr Patel said that the process of negotiations must be more inclusive both in terms of process and the content as far as the LDCs were concerned and lamented lack of progress on duty-free, quota-free access as well as the Aid for Trade issues.

They said DQFQ concessions were sought from ''advanced developing countries'' at the Hong Kong Ministerial Conference in December 2005 when these issues were debated.

The rich countries agreed to extend this concession on 97 per cent of tariff lines, though that left a gap where products sensitive to rich economies such as textiles could be exempted. This had come in for considerable criticism, and one of the spin-offs was that big developing countries like India, China and Brazil too should extend such preferential offers, they said.

Brazil has already notified its DFQF scheme, while India and China have announced the intention but are yet to notify it.

Moreover, India is also a signatory to GSTP (Global System of Trade Preferences among Developing Countries which was agreed at UNCTAD X1 Conference at Sao Paulo in 2004.

UNI

State finance ministers to review sales tax on aviation fuel

New Delhi, Mar 13 (UNI) The Federation of Indian Airlines (FIA) and the ministry of civil aviation have formed an empowered group of state finance minister in an effort to reduce the sales tax component on air turbine fuel (ATF). ''Fuel prices need to come down,'' said civil aviation minister Praful Patel. ''State governments must reduce sales tax and there should be more competition in this area.'' At present, government-owned oil refining companies enjoy monopoly over ATF and airlines pay eight.....

Tag Heuer in talks with Reliance, Pantaloon for luxury retail

New Delhi, Mar 13 (UNI) Luxury watch and jewellery maker Tag Heuer is in talks with major players like Reliance, Pantaloon, DLF and Shoppers's Stop for a retail tie-up in India and will set up 30 mono-brand boutiques by year-end on a franchise basis. ''We are in talks with all the big players in the Indian market, including Reliance, Pantaloon, DLF, Shoppers's Stop and Emaar, for a foray in the luxury retail space,'' LVMH Watch and Jewellery (Asia Pacific and Group).....

MRPL appoints Dewangan as Director

New Delhi, Mar 13 (UNI) Mangalore Refinery and Petrochemicals Ltd (MRPL) today named Mr V K Dewangan, Deputy Secretary (E-I), Ministry of Petroleum and Natural Gas, as Director of the company. His appointment is effective from March 5. MRPL is a subsidiary of Oil and Natural Gas Corporation (ONGC). UNI.....
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