Union commerce minister Piyush Goyal has urged the World Trade Organisation (WTO) to restart time-bound reforms and strengthen the enforceability of international trade laws, stressing the importance of all members having an opportunity to build productive capacity, create employment, and participate meaningfully in global trade.
During trade ministers’ deliberation on reforms on the second day of the 14th WTO ministerial meeting (MC14) in Cameroon’s Yaounde, Goyal on Friday said consensus-based decision-making is the bedrock of the WTO’s legitimacy. On the level playing-field, he emphasised that discussions must take into account the asymmetries from the Uruguay Round.
India focused on the need for long-pending issues like food security, public stockholding, special safeguard mechanism on cotton to be prioritised while taking up new issues to address the structural asymmetries. These issues are of importance for India as they are necessary to continue the government’s schemes, such as offering minimum support price to millions of poor farmers and free ration to over 800 million underprivileged citizens.
Goyal said agriculture is critical to the livelihoods of millions. “For the Global South, permanent solution on public stockholding for food security purposes, special safeguard mechanism, and cotton are long-pending mandated issues; we must deliver on them on priority.”
He said India remains committed to negotiating a comprehensive Fisheries Subsidies Agreement that balances current and future fishing needs, protects the livelihoods of poor fishers, with appropriate and effective Special and Differential Treatment. Goyal highlighted the continued dysfunction of the dispute settlement system.
{{/usCountry}}He said India remains committed to negotiating a comprehensive Fisheries Subsidies Agreement that balances current and future fishing needs, protects the livelihoods of poor fishers, with appropriate and effective Special and Differential Treatment. Goyal highlighted the continued dysfunction of the dispute settlement system.
{{/usCountry}}India, on the second day of MC14, emphasised that without effective adjudication, rules lose their enforceability, thereby disproportionately disadvantaging smaller economies. It cautioned against weaponising transparency to justify trade retaliation or challenge legitimate domestic policies, a commerce ministry statement said.
“Instead, it should be accompanied by meaningful and sustained capacity-building support, ensuring that all members can meet obligations fairly and effectively. India also stressed the importance of all members to have a fair opportunity to build productive capacity, create employment, and participate meaningfully in global trade.”
Speaking on WTO reform transparency, commerce secretary Rajesh Agrawal extended India’s support for a time-bound restart of reform efforts with milestones, based on a more robust evidentiary analysis and through engagement with submissions and ministerial decisions. “India unequivocally called for eschewing cherry-picking issues and proliferating preconceived and prejudged positions,” the statement said.
“India also highlighted the need to give greater importance to the role of WTO Committees, which, through their lived and learned experiences, can contribute to an exhaustive stocktake through a bottom-up approach.”
Agrawal called for the consensus process to be premised on the principles of openness, transparency, inclusivity, participative, and member driven. He cautioned against plurilaterals fragmenting the multilateral trading system.
On the sidelines of MC14 meetings, Goyal held bilateral meetings with his counterparts from the US, China, Korea, Switzerland, New Zealand, Canada, Morocco, and Oman, the commerce ministry statement said. “Discussions were focused on the MC14 agenda as well as on matters related to deepening bilateral trade ties.”