Monday, December 19 2005 17:52 Hrs (IST) - World Time -

New Delhi: The United Progressive Alliance (UPA) Government maybe upbeat about the outcome of the WTO Ministerial at Hong Kong, but its key supporter, the Communist Party of India (Marxist), is not.

In fact, the Communist Party of India Marxist (CPI-M) today (Dec 19, 2005) said the government had failed to protect the interests of farmers as also the country at the just-concluded world trade talks.

"The role of the government of India in these negotiations have not produced an outcome that adequately protect the interests of the farmers and the country," CPI(M) Polit Bureau, the party's highest policy making body, said in a statement on the Hong Kong Declaration.

"The Hong Kong declaration further reinforces the unequal trade regime and international economic order. The government of India has failed to stand up firmly for a more equitable agreement both for India and developing countries," it said.

CPI(M) said the commitment of developed countries to eliminate export subsidies to agriculture products by 2013 was no achievement as they account only for 3.5 per cent of the total subsidies. "India will not be gaining much as its exports are limited. In the coming days, more pressure and trade distorting tactics are expected, which will adversely affect farmers and Indian agriculture," the party said.

"Our primary interest should have been to ensure the protection of small and marginal farmers. The special safeguard mechanism proposed will not be sufficient in the light of the fact that we have already agreed to further cuts in agricultural tariffs", CPI (M) added.