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China calls for immediate tariff exemptions for Least Developed Countries

Beijing, Dec 14 (PTI) China today said the Least Developed Countries (LDCs) be granted exemption from tariffs and quotas immediately and urged WTO members to take into account the world's most populous nation's "special concerns." At the same time, developing countries should also be given flexibility on special products and special safeguard mechanism, Chinese Minister of Commerce Bo Xilai told a plenary session of the sixth Ministerial conference of the World Trade Organisation in Hong Kong.

"The talks should give developing countries real and tangible benefits to boost their confidence in the Doha Round talks," Bo, who is heading the Chinese delegation, said.

Bo said he was "proud" of the Chinese government's decision to exempt the debts owed by the least-developed countries before the end of last year.

China decided to write off the debts of 38 developing countries in Asia and Africa amounting to a total of 13.778 billion yuan (about 1.7 billion U.S. Dollars).

China supports the idea that the Doha Round talks should reach a balanced agreement, he said, pointing to an overall balance which is conducive to the development of developing economies.

"Currently, significant imbalance does exist between developed countries and developing countries and such imbalance has affected the healthy development of the world economy," he said.

Bo noted that agriculture is the core of the Doha Round and both rich and poor countries face pressures. "But the pressures they face are not the same with each other," he said. PTI

Source: PTI