Page 6 - Wto

India for fast tracking talks to find food stockholding solution at WTO

India has asked WTO members to fast-track talks on finding a permanent solution on the public stockholding for food security issue at the ministerial-level meeting of the WTO in February, but some countries differ on this, an official said. The issue was discussed at a WTO (World Trade Organisation) agriculture negotiations meeting held on January 16. In the meeting, the US stated that "given members' deeply divergent views", a permanent solution for public stockholding for food security purposes by the 13th Ministerial Conference (MC) is "not possible", the Geneva-based official said. The MC is the highest decision-making body of the Geneva-based global trade watchdog WTO. The 13th MC meeting is scheduled for next month in Abu Dhabi. In its presentation, India stated that the public stock-holding (PSH) has to be dealt with separately on a "fast track mode and emphasized that it has to be delivered at MC13", the official added. According to the officials, the US has stated that ..

Commerce ministry calls stakeholders' meet on WTO issues on January 20

The commerce ministry has called a meeting of all stakeholders, including government officials and trade sector experts, on January 20 to discuss issues which are likely to figure in the WTO meeting, an official said. The 13th Ministerial Conference (MC) of World Trade Organization (WTO) is scheduled from February 26-29 in Abu Dhabi, the UAE. MC is the highest decision-making body of the 164-member WTO, which monitors global exports and imports besides adjudicating disputes between member countries. India is the member of the organisation since 1995. The issues which would figure in the MC 13 include agriculture, food security, dispute settlement reform, e-commerce moratorium, and fisheries subsidies. "We are meeting all the stakeholders on January 20," the official said. On the food security issue, India has called for finding a permanent solution to the issue of public stockholding for food security in the ministerial-level meeting. It has dismissed arguments for alternative fo

ICT levy dispute at WTO: EU softens stance on retaliating against India

According to the European Commission, EU exports of such technology affected by India's violations is up to €600 million annually, which is significant

India may not be majorly impacted by G7 ban on Russian diamond imports

India's move came after both sides were not able to arrive at a mutually agreeable solution

WTO's trade policy toolkit for climate action

Our policymakers may take note of the recommendations and fine-tune our policies

India seeks 5 yr patent waiver for Covid diagnostics, therapeutics from WTO

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

India faces queries from WTO on PMGKAY extension and rice export ban

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 criticises Cairns members in Geneva talks on foodgrain stockholding

India has criticised Cairns member countries during a WTO meeting on public stockholding of foodgrain for food security purposes in Geneva, stating that members are monopolising time to discuss their submission on domestic support, an official said on Tuesday. At a dedicated session on public stockholding on November 20, India said it would refrain from commenting as the session had been "ambushed" by some Cairns agriculture-exporting members, the Geneva-based official said. "India expressed the belief that certain Cairns members were attempting a motion to take away dedicated talks on public stockholding by monopolising time to discuss their submission on domestic support, a topic that arguably should be addressed by the Committee on Agriculture in Special Session, scheduled to convene the next day," the official added. The 19-member Cairns group lobbies for agricultural trade liberalisation. It was formed in 1986 in Cairns, Australia. The members include Argentina, Australia, ...

Netherlands, UK, Australia push India's exports in April-October period

India's imports contracted 8.9 per cent in April-October period though inward shipments shot up 12.3 per cent in October led by a near doubling of gold imports

Centre to revise SEZ Act, limiting tax sops and enhancing integration

SEZs are areas within the country that have different economic regulations and are considered as a foreign territory, with the primary focus on promoting exports

India pitches for clear definition of e-commerce trade in goods in WTO

India has asked the WTO members to work on a clear definition of e-commerce trade in goods and services as it would help provide developing countries a policy space to make decisions on the fast-growing sector, an official said. At present, there is a difference of understanding about the subject between developed and developing member countries of the World Trade Organization (WTO). The issue came up for discussion during a recent meeting of senior officials of WTO members in Geneva last week. "India stated that the definition should be clear about digital goods and services because customs duties are there on goods and not on services. The Western world wants no customs duties, and on the other hand, developing countries want that policy space to impose the duties," the official said. Customs duties help protect domestic industries and provide a policy space to support the growth of MSMEs. Though certain WTO members have been discussing the e-commerce issue since 1998, there is

US move to withdraw some digital trade proposals at WTO to benefit India

The development comes ahead of the WTO's 13th ministerial conference and will see in-depth discussions on global e-commerce rules that include these topics

India criticises safeguard measures on steel import by EU, UK at WTO meet

Certain WTO countries, including India, Switzerland, Russia, and Japan, have criticised the safeguard measures imposed by the EU and the UK on imports of certain steel products, stating it is inconsistent with global trade rules, an official said. The comments were made by these countries during the meeting of World Trade Organisation's (WTO's) Safeguards Committee on Wednesday. The Geneva-based official said, "Switzerland, Brazil, Japan, China, Korea, Russia and India criticised the European Union's decision to maintain its safeguard measure on imports of certain steel products, which was imposed by the EU after the US imposed additional duties on steel imports during the Trump administration. These members regretted the EU's decision not to terminate the measure during a recent review and argued the safeguard was inconsistent with WTO rules, the official said. However, the EU argued that the safeguard will expire at the end of June 2024. Further India, Korea, Switzerland, Japan,

Senior officials meet of WTO members to begin from tomorrow in Geneva

From India, senior officials, including Additional Secretary in the commerce ministry Peeyush Kumar, have reached the WTO headquarter in Geneva

WTO halves 2023 global merchandise trade growth forecast to 0.8%

The report said merchandise trade volume was down 0.5 per cent year-on-year (Y-o-Y) in the first half of 2023, but a modest pickup is expected in the second half of the year

Exporters seek more sops for value-added products under Rodtep scheme

Say current structure provides higher refund rates on lesser value-added goods

India-Canada tensions: Multi-billion economic deals at risk if rift widens

But, experts say there may not be an immediate impact

WTO in survival mode pushes back on splintering the global trade

The WTO estimates that the cost of splitting the world trade system into separate blocs would be about 5 per cent of real income at the global level

India agrees to cut import duty to 5-10% on some processed food items

Although the duty reduction stems from negotiations between India and the US, the tariff cut will apply to all countries in line with WTO rules

G20 commits to WTO reforms, aims for dispute settlement system by 2024

The G20 leaders on Saturday expressed their commitment to conduct discussions for having a fully and well-functioning dispute settlement system of the World Trade Organisation (WTO) by 2024. Besides formulating norms for global exports and imports, the Geneva-based 164-member multi-lateral body adjudicates trade disputes among the member countries. The dispute settlement mechanism of the WTO has been derailed due to a non-functional appellate body since December 2019. "We reiterate the need to pursue WTO reform to improve all its functions through an inclusive member-driven process, and remain committed to conducting discussions with a view to having a fully and well-functioning dispute settlement system accessible to all members by 2024, the G20 declaration said. It said that the leaders expressed commitment to work constructively to ensure positive outcomes at the WTO's Thirteenth Ministerial Conference (MC13). MC, which is the highest decision-making body of the WTO, is schedul