Brazil, India offer trade concesssions at G7
LONDON (Reuters) - Brazil and India offered concessions on industrial goods and services on Saturday to break an impasse in global trade liberalisation talks but made clear developed countries must at least match their moves.
Indian and Brazilian officials made the offer at a meeting with finance ministers from the Group of Seven industrialised nations in London.
India offered to lower its tariff barriers by more than the 50 percent it has already proposed to make global trade talks a success, adding that such a move would be implemented only if developed economies could match or exceed their offer.
Brazil said it was ready to concede some ground on industrial tariffs as long as the United States and the European Union did the same on agriculture.
More: in.today.reuters.com
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