The meeting will seek to resolve existing differences over global trade issues, they said.

The Doha round of WTO to further liberalise world trade started at the Qatari capital in 2001, but has been stalled due to differences, mainly between the rich and developing countries, over issues like export sops, farm subsidies and market access.

The political transition in the US had also stalled the revival of talks.

Now, with the Barack Obama administration firmly in place in the US, and India having named Anand Sharma its new commerce ministers, the G8 leaders are optimistic that the trade talks will conclude next year.

The Indian side is also hopeful that the conclusion of Doha talks will be able to check the growing protectionism among the rich countries, make global trade more transparent and check the drop in international trade in the past year.