Diplomats of foreign affairs and trade of more than 20 emerging nations have come together and held talks regarding the proposal of a preferential trade blueprint to cut export tariffs by at least 20% on at least 70% of exported goods.
These countries include India, Pakistan, Vietnam, Argentina, Brazil and Egypt, but the cut of tariff may exclude textiles and apparel. Sources said even China, the most competitive emerging economy is not part of the campaign, sensitive textile and apparel produced by some participating nations such as Brazil and Argentina are not discussed the list.
Jorge Taiana, Argentina's minister of foreign affairs and trade, who chaired the talks, said parties to the UN-sponsored Global System of Trade Preferences will launch intensive negotiations next year to conclude a final accord by the end of September 2010.
