Tuesday, December 13 2005 18:15 Hrs (IST) - World Time -

Hong Kong: India today (December 13, 2005) formed a core group with eight other developing countries to deal with the challenges posed in industrial tariff negotiations at the on-going WTO Ministerial Conference here.

The Group, which would be co-chaired by India and South Africa, has made it clear to WTO that "less than full reciprocity" in reduction commitments for developing countries should be built into any tariff reduction formula for industrial goods.

The Group wants developed countries such as the US and the EU to reduce their tariff peaks, high tariffs, tariff escalations and non-tariff barriers on products of export interest to developing countries.

The group said ambition in Non-Agriculture Market Access (NAMA) could not be isolated and has to be viewed in relation to market access given by developed countries.

Besides India and South Africa, other members in the group include Argentina, Brazil, Egypt, Namibia, Venezuela and Indonesia.