WTO Meeting

An official delegation headed by Commerce Secretary Rajesh Agarwal will participate in India's eighth trade policy review meeting at the WTO, scheduled on July 21 and 23 in Geneva, a government statement said on Monday. The Trade Policy Review (TPR) is an important transparency mechanism under the WTO (World Trade Organization). It entails a comprehensive peer review of a member's trade policies, consisting of a multitude of border and behind-the-border measures, to enhance transparency, predictability and understanding in the WTO. These reviews are conducted by the Trade Policy Review Body, which comprises the entire membership of the WTO. The review is carried out on the basis of two principal documents a policy statement submitted by the member under review (called the Government Report) and a report prepared by the WTO Secretariat, which is circulated to all member countries. All WTO members are subject to review at regular intervals, although at varying frequencies, determin

The US has called for a rethink of the MFN trade principle ahead of WTO's 14th ministerial meet, citing changing economic realities and concerns over reciprocity

WTO's MC14 in Cameroon is set against geopolitical tensions and trade fragmentation, with limited expectations beyond preserving multilateral consensus

India will flag its concerns on issues pertaining to agriculture, fisheries agreement, China-led proposal on investment facilitation and dysfunctional appellate body of the WTO during an informal meeting of about 25 trade ministers in Paris on June 3, an official said. The mini-ministerial meeting will be held on the margins of the OECD (Organisation for Economic Co-operation and Development) Ministerial Council Meeting in Paris. Commerce and Industry Minister Piyush Goyal will participate in this meeting. He is on a five-day visit to France and Italy from June 1. The official said that India will raise its concerns on all key issues of the WTO including agriculture (finding permanent solution to the public stock holding); fisheries agreement, investment facilitation proposal, reforms in the WTO and dysfunctional appellate body of the Geneva-based forum. India is against the move led by countries such as China to push a proposal on investment facilitation at the World Trade ...

American President Donald Trump has announced imposing reciprocal tariffs on its major trading partners including China that levy higher import duties on goods shipped from the United States. He has already announced a 25 per cent duty on steel and aluminium imports, which will come into effect from March 12. While announcing the new tariff policy, the president has also spoken about how India is "right at the top of the pack" when it comes to tariffs. With all these countries being members of the global trade body World Trade Organisation (WTO), the decisions of the US may challenge the WTO principles. A list of Q & As (questions and answers) to explain the wider implications of the US move: Q. What is WTO? A. The 166-member Geneva-based WTO is a multilateral body which formulates rules for global trade and adjudicates disputes between the countries. Its main objective is to promote smooth, predictable and free flow of goods. Both India and the US have been members since ...

Countries agree to renew the e-commerce moratorium until next ministerial

Emphasisng the importance of securing their well-being, Goyal stated, "I think that India has successfully delivered on the issues that were our role and has achieved the outcomes that we expected"

On the 5th day of the ministerial meeting, most ministers had already gone home, although India's trade minister Piyush Goyal and European Trade Commissioner Valdis Dombrovskis remained until the end

The WTO talks failed to secure deals on other contentious trade issues including a crackdown on agriculture and fisheries subsidies

A draft agriculture deal showed that a key reform sought by India on permitted government support levels for farmers was still not agreed, with two alternative solutions sitting side by side

The meeting of the highest decision making body of the WTO on Friday entered the fifth day with key members including India, the US and EU holding talks to iron out differences on issues such as agriculture, fisheries subsidies, and duty moratorium on e-commerce trade. The 13h ministerial conference (MC), which was to end on February 29, extended for a day as developing and developed nations were unable to find a common ground on these key issues. The members are talking to end the impasse and so far things have not moved much, an official said. "There are nine countries in the Green Room meeting including Brazil and China. The negotiations have been extended as WTO chief Ngozi Okonjo-Iweala is pushing for outcomes," the official said. However, officials here are not sounding positive so far about bridging the differences and coming out with a ministerial declaration, which is a must for the success of the conference. India has clearly stated that finding a permanent solution to t

The final gathering, pushed back for a second time, is now set for 2 p.m. Abu Dhabi time - past the original end of Thursday evening

India demands end to customs duties moratorium on e-commerce, says it impacts developing countries

Says such matters should be addressed in intergovernmental organisations

The head of the World Trade Organisation warned on Monday that war, uncertainty and instability are weighing down the global economy and urged the bloc to embrace reform as elections across nearly half the world's population could bring new challenges. WTO Director-General Ngozi Okonjo-Iweala sought to offer some praise for her organisation as it held its binneial meeting in the United Arab Emirates, even as it faces pressure from the United States and other nations. But she was blunt about the risks ahead, as higher prices for food, energy and other essentials sting people's pockets, fuelling political frustration. People everywhere are feeling anxious about the future and this will be felt at the ballot box this year, she said. None are perhaps more critical for the WTO than the US presidential election on November 5. Running again is former President Donald Trump, who threatened to withdraw the US from the WTO and repeatedly levied tariffs taxes on imported goods on perceived

Farmers under the banner of Samyukt Kisan Morcha (SKM) are all set to launch a nationwide tractor procession on highways on Monday

The document emphasises the role of parliamentarians in ratifying bilateral and multilateral trade agreements that enhance and oversee the facilitation of global trade in all industries

From the outside, it's easy to think of India as an undifferentiated mass of individuals with leaders who turn up in places such as Abu Dhabi to reject everything the rest of the world suggests

The global trading rules agreed at the conclusion of the Uruguay round of negotiations at Marrakesh in April 1994 that led to the establishment of the WTO have largely remained unchanged

WTO draft text proposes to 'agree, adopt' a binding framework until next meet