Monday, December 19 2005 14:20 Hrs (IST) - World Time -

New Delhi: Commerce Minister Kamal Nath today (Dec 19, 2005) said the WTO Ministerial declaration fully secures India's concerns on agriculture and gives Indian farmers a chance to compete in the world market.

"The agreement also adequately addresses the concerns of Indian industry as it requires devloped countries to cut tariffs peaks and escalations," he said on his arrival from Hong Kong.

Nath said the strategy to form a grand coalition of 110 developing countries paid-off at the Ministerial.

The basic principal for a global trade pact have been laid out and the details would be worked out early next year, he added.