While taking into account the humanitarian aspect, the government of Brazil has agreed to soften its earlier stand on EU special treatment to Pakistan for the development of areas devastated by 2010 floods. Diplomatic sources disclosed that Brazil after marathon negotiations with businessmen of the country agreed not to follow reservations on the waiver to Pakistan at the World Trade Organisation (WTO).
It is learnt that the official intimation would likely to be given to the Foreign Office by Monday. The decision was taken at a high-level ministerial committee meeting in Brazil on Friday. The meeting was attended by state ministers and representatives of business community.
It has been reported that Bangladesh, Argentina, Indonesia and Brazil blocked the earlier EU proposal in the first week of November at the WTO on the pretext that it would make it difficult for them to compete with Pakistan in the European textiles market. Pakistan managed to persuade India in the recent visit of the commerce minister to support the EU package at the WTO. Brazil is said to have taken stand on principle that the WTO was not a political forum to solve the disputes of political nature. Rather it''s a world forum to deal with commercial and business matters.
Earlier, Brazilian shoe manufacturers and leather producers showed their concern, over the waiver, which might impact the export of shoe and leather of Brazil. Brazil had the understanding that the period of these concessions would be specified, no longer than December 2013. Nonetheless, the government of Brazil has shown flexibility and decided not to pursue the objections raised earlier at WTO.
Comments
Comments are closed for this article.