Commerce and Industry Minister Piyush Goyal urges WTO at MC 14 in Cameroon to restore dispute settlement, uphold S and DT, secure food security, fisheries deal and fair tech driven trade.2 Min Read
India’s Commerce and Industry Minister Piyush Goyal has called on the World Trade Organisation (WTO) to revive its automatic and binding dispute settlement mechanism, warning that the current dysfunction has left member countries without effective avenues for redressal.The minister said the absence of a functional two-tier dispute settlement system since 2019 has curtailed nations’ ability to seek multilateral recourse against measures that hinder free trade. He stressed that restoring the mechanism is critical to maintaining credibility and fairness in the global trading system.
Speaking at the 14th WTO Ministerial Conference (MC-14) in Cameroon, the Minister said that necessary reform at the WTO should be carried out through a transparent, inclusive, and member-driven process, keeping development at its core and upholding the foundational principles and objectives of the Organisation through non-discrimination, consensus-based decision making, and equity.Acknowledging the efforts undertaken by the WTO’s DG to ensure that the Ministerial Conference was being organized under the prevailing conditions, the Minister said that Special and Differential Treatment (S&DT) should be precise, effective, and operational, and that WTO’s past mandates should be delivered on priority.Stating that the incorporation of plurilateral outcomes into the WTO framework should be based on consensus and not impair existing rights of non-parties or cast additional obligations on them, the Minister reiterated the Global South’s demand for a Permanent Solution on Public Stockholding for food security purposes, a Special Safeguard Mechanism and Cotton, along with a comprehensive Fisheries Subsidies Agreement to balance current and future fishing needs while protecting the livelihoods of poor fishers.Highlighting the need for emerging technologies to ensure welfare for all, he added that the multilateral trading system must also ensure that innovation, development and opportunity are shared equitably among Members.Also Read: India urges WTO to reconsider moratorium on customs duties on electronic transmissions
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