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Protectionism to hit developing economies

By Kalyan Barooah

BRUSSELS, Oct 4 � Making a strong plea against harping on non-tariff trade barriers, Vice-President Hamid Ansari today said that neither sustainable global economic recovery nor growth in developing economies would be possible, if the new non-traditional methods of protection continue.

Addressing the first session on Intervention on Economic and Financial Governance at the Eighth Asia-Europe Meeting (ASEM 8), the Vice-President said that if the new non-traditional methods of protection continue as part of stimulus and emergency support measures, mainly in the developed economies, for extended periods of time then growth in developing economies would not be possible.

The biennial international meeting, ASEM 8 got off today at the Royal Palace located in the centre of Brussels, when the Heads of State and Heads of Government of the 27 Member States of the European Union and 16 Asian countries, the European Commission and the ASEAN Secretariat met here. It aims at enhancing the dialogue on current political, economic, financial and socio-cultural issues.

The sessions of ASEM 8, which officially welcomed new members Russia, Australia and New Zealand, would successively address �global economic governance�, �sustainable development�, �global issues including human rights, disaster relief, non-proliferation, terrorism and organised crime, besides �regional issues� as well as �people-to-people contacts�, �visibility� and �future of ASEM�, an official spokesman said.

President of the European Council, Herman Van Rompuy, led the discussions, while Prime Minister of Belgium Yves Leterme, as summit host, welcomed the delegates. The summit is being attended by Chinese Premier Wen Jiabao, the Korean President Lee Myung- Bak, and the Japanese Prime Minister Naoto Kan, besides all ASEAN leaders from Asia.

Meanwhile, flagging the dangers posed by non-traditional methods of protection adopted by the European Union member countries, the Vice-President pointed out that some of these measures are focused on services and manufacturing sectors, where developing economies tend to have a comparative advantage.

The non-traditional protection measures mentioned by the Vice-President included visa restrictions imposed on professionals, barring companies from non-EU members to participate in tendering process, among others.

�Needless to say, we believe a successful completion of the Doha Development Round would be a strong signal and provide a growth impetus to the global economy,� he said.

Meanwhile, the Vice-President had three bilateral meetings with the EU President, the Finish Prime Minister Mari Kiviniemi and President of Latvia, Valdis Zatlers.

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Protectionism to hit developing economies

BRUSSELS, Oct 4 � Making a strong plea against harping on non-tariff trade barriers, Vice-President Hamid Ansari today said that neither sustainable global economic recovery nor growth in developing economies would be possible, if the new non-traditional methods of protection continue.

Addressing the first session on Intervention on Economic and Financial Governance at the Eighth Asia-Europe Meeting (ASEM 8), the Vice-President said that if the new non-traditional methods of protection continue as part of stimulus and emergency support measures, mainly in the developed economies, for extended periods of time then growth in developing economies would not be possible.

The biennial international meeting, ASEM 8 got off today at the Royal Palace located in the centre of Brussels, when the Heads of State and Heads of Government of the 27 Member States of the European Union and 16 Asian countries, the European Commission and the ASEAN Secretariat met here. It aims at enhancing the dialogue on current political, economic, financial and socio-cultural issues.

The sessions of ASEM 8, which officially welcomed new members Russia, Australia and New Zealand, would successively address �global economic governance�, �sustainable development�, �global issues including human rights, disaster relief, non-proliferation, terrorism and organised crime, besides �regional issues� as well as �people-to-people contacts�, �visibility� and �future of ASEM�, an official spokesman said.

President of the European Council, Herman Van Rompuy, led the discussions, while Prime Minister of Belgium Yves Leterme, as summit host, welcomed the delegates. The summit is being attended by Chinese Premier Wen Jiabao, the Korean President Lee Myung- Bak, and the Japanese Prime Minister Naoto Kan, besides all ASEAN leaders from Asia.

Meanwhile, flagging the dangers posed by non-traditional methods of protection adopted by the European Union member countries, the Vice-President pointed out that some of these measures are focused on services and manufacturing sectors, where developing economies tend to have a comparative advantage.

The non-traditional protection measures mentioned by the Vice-President included visa restrictions imposed on professionals, barring companies from non-EU members to participate in tendering process, among others.

�Needless to say, we believe a successful completion of the Doha Development Round would be a strong signal and provide a growth impetus to the global economy,� he said.

Meanwhile, the Vice-President had three bilateral meetings with the EU President, the Finish Prime Minister Mari Kiviniemi and President of Latvia, Valdis Zatlers.

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