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Friday, December 18, 2009

Negotiations back on track; India says pressure paid off

Copenhagen, Dec 17 (PTI) India today said "sustained pressure" applied by the developing countries had led to the resumption of the two-track climate negotiations here, hours after the process appeared floundering as a group of developed nations worked on a secret document.

Environment Minister Jairam Ramesh said the negotiations had resumed on the two track process, even as he hailed the US announcement on a USD 100 billion annual financing fund as a "very important step".

"I think one good thing happened today, the negotiations have resumed on the two track process. I think the sustained pressure brought to bear by the developing countries has paid off," he said later.

He said India has a 75 per cent agreement with the US on "transparency" while 25 per cent disagreement (rpt) disagreement on "Monitoring, Reporting and Verification".

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