The Reasons for the Failure of the Seattle Millennium Talks on the WTO!
Third ministerial conference of World Trade Organisation (WTO) comprising of 137 members was held in America on November-December 2000 at Seattle. From the very beginning, this conference was held amidst controversies. Thousands protested in opposition of failure of WTO. The main objections raised by the protestors were the issues of Human Rights and preservation of ecology.
The protestors raised the voice against the violation of the above issues by the WTO. Due to the protestors, the inauguration was cancelled and the proceeding of the conference started late by 5 hours. The failure can be attributed to the lack of mutual consensus among the four powerful developed countries are Japan, USA, Canada and the EU countries.
They could not agree on various topics discussed in the rounds. Few American trade unions and NGOs put effort in inclusion of environmental measures among other related to trade, in discussion agreements, if any. Third world countries inclusion, India opposed some arbitrary demands of free trade by these developed economies which could have effect of breaking their domestic economies.
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The failure of Seattle talk has the following implication for the Indian Economy:
a. It may enhance India’s stature in international platforms. Developed countries may search ways to convince to appease the India for her support or favour for development of our country.
b. This may have some effect on the amendments of patient, copyright and other laws.
c. It may lead to continuous problems and disputes regarding the provisions of WTO.