Ministerial Conferences are the highest decision-making body of the WTO and serve as crucial forums for member states to address trade challenges, refine trade rules, etc.
New Delhi has also opposed EU regulations banning the import of products based on deforestation in the country of origin, likely to hit billions of dollars worth of exports from India
WTO member countries are unlikely to reach a consensus next month on reforming the dispute settlement system of the global trade body as there are wide differences over the issue between developed and developing countries, a GTRI report said on Sunday. The trade minister of the 164-member World Trade Organisation (WTO) will gather in Abu Dhabi in February for the 13th ministerial conference (MC) to resolve different issues such as reforms in dispute settlement mechanisms, agriculture-related matters and a moratorium on customs duties on e-commerce trade. "Reaching a consensus on reform of the dispute settlement system is complex, with developed and developing countries holding different priorities and concerns," economic think tank Global Trade Research Initiative (GTRI) said. It said that balancing India's demands for an appellate body, S&DT (special and differential treatment) provisions, and fairness while addressing other members' concerns, including transparency and legal ...
The official said that developed countries have demanded discussion on export restrictions-on items such as wheat-imposed by India
"In addressing the issue of appeal, delegates are actively exploring potential resolutions that can reconcile the diverse perspectives expressed by Members," he said
India is among eight other developing nations pushing for a patent waiver that has already been authorised for the use of the Covid-19 vaccine
Countries, including the United States, European Union, Canada, Australia, Switzerland, and New Zealand, are seeking clarity on the expiry dates of India's export restrictions and duties
India on Thursday told WTO members that its success in feeding a large population demonstrates the country's understanding of what is best for developing nations at the negotiation table, an official said. The observations were made at an agriculture negotiation meeting in Geneva, chaired by Ambassador Alparslan Acarsoy of Trkiye. It is time for some developed members to abandon the higher moral ground, the Geneva-based official said. In recent negotiations, India, along with 80 World Trade Organization (WTO) members, has made it clear that the focus of the outcome on agriculture at the 13th Ministerial Conference (MC13) in February 2024 should centre around a food security package, with a solution for public stockholding at its core. The Ministerial Conference is the highest decision-making body of the WTO. It is scheduled to meet in Abu Dhabi in February next year. India has stated that this solution should provide developing members with sufficient flexibility to purchase food
The WTO Director-General urged officials to arrive in Geneva with "realistic expectations of what is truly doable" for MC13, rather than sticking to established positions
The two-day meeting, starting 23 October will be attended by commerce secretary Sunil Barthwal
In the event of future pandemics, an omnibus waiver will enable a quick response and prevent drawn-out negotiations
Sitharaman is currently visiting the US. Her visit started Tuesday, and she will be there for a week. She will be attending spring meetings and a G20 finance ministers' meeting
The rupee closed at a record low of 80.86 to the dollar, down from 79.9750 in the previous session
India has been able to secure a favourable outcome at the WTO after many years, despite a strong global campaign against its farmers & fishermen, Commerce & Industry Minister Piyush Goyal, after the conclusion of the WTO's 12th Ministerial Conference in Geneva.
At one stage, a series of demands from India appeared set to paralyse talks but accommodations were found, trade sources said
India reiterated Commerce Minister Piyush Goyal's view that any WTO vaccine agreement must also waive IP rights for Covid-19 diagnostic tests and therapeutic drugs, according to the readout
Despite making all the correct noises, the WTO members have failed to walk the talk as evident in divergent positions on food security
Members of the World Trade Organisation (WTO) has agreed to hold their 12th Ministerial Conference (MC12) during the week of June 13 in Geneva, the organisation said.
She said there is a lot of work to be done in order to strengthen the trading systems
WTO members agreed on Monday to hold the next major ministerial meeting in Geneva, Switzerland in late 2021