India should be disappointed as a permanent solution on public stockholding of food grains was not discussed at the 12th Ministerial Conference
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Despite a robust worldwide campaign against Indian farmers and fishermen, India was able to get a favourable conclusion at the WTO after many years, commerce and industry minister Piyush Goyal said here on Friday.
India was a major component of the talks on almost all tricky issues during the four-day WTO ministerial conference, which had to be extended by two days to bridge differences among member-nations.
The World Trade Organization ministers reach historic agreements on response to fishing subsidies, food insecurity and Covid-19 vaccines in a landmark bundle of agreements secured through hectic round-the-clock talks.
WTO ministers approved a package of agreements that included the vaccine patent waiver, which Director-General Ngozi Okonjo-Iweala previously said was necessary to end the “morally unacceptable” inequity of access to Covid-19 vaccines.
The deals were ground out over five days of bargaining at a conference of more than 100 trade ministers that was seen as a test of the ability of nations to strike multilateral trade deals amid the Russia-Ukraine war
"India is 100% satisfied with the outcome of WTO's MC12 conference. India was successful in ensuring the livelihood of its farmers and fishermen," Goyal said.
After a gap of about nine years the WTO members reached a pact — fisheries subsidies agreement. The four-day talks which began on June 12 concluded early Friday.
The countries are still arguing over small details holding up a decision on these crucial issues
The once-in-two-year mega meeting of trade ministers from all 164 WTO member nations which legislate on global trade has concluded in Geneva, Switzerland.
But as member nations struggle to compromise on almost all key issues, the 12th biennial summit of the World Trade Organization (WTO) has been extended by a day to Thursday.
WTO Director-General Ngozi Okonjo-Iweala called on member nations to go the extra mile to find convergence on the various issues at stake at the 12th Ministerial Conference (MC12) and to be mindful that time is running out to conclude meaningful agreements.
Commerce and Industry Minister Piyush Goyal has told the ongoing 12th Ministerial Conference of the WTO that the long due reform of the global body should focus on preserving the special and differnetial treatment accorded to developing and least developed countries.
The WTO's four-day 12th Ministerial Conference (MC12) has been extended by one day until Thursday to allow for more discussion of the main issues.
During its June 12-15 ministerial conference, its first major meeting in over four years, the 164-member body is seeking to agree on a response to the COVID-19 pandemic, a reduction of fishing subsidies, pledges on food security and the launch of an internal reform.
For every fisher family, India gives barely USD 15 subsidy in a year. On the other hand, there are countries which give as high as USD 42,000, USD 65,000 and USD 75,000 to one fisherman's family. "That is the extent of disparity that is sought to be institutionalised, through the current fisheries text," commerce and industry minister Piyush Goyal said.
The Director General of the World Trade Organisation (WTO) has proposed to extend the ministerial conference by one day, they said. Member countries of the organisation have gathered here to finalise an agreement on disciplining subsidies to promote sustainable fishing, and a package in response to the Covid-19 Pandemic.
India is one of the only three nations fighting the plan to put blanket restrictions on the right of nations to stop foodgrain exports to the World Food Programme at the ongoing 12th WTO ministerial conference
Famous Indian goods which carry the tag include Basmati rice, Darjeeling tea, Chanderi fabric, Mysore silk, Kullu shawls, Kangra tea, Thanjavur paintings, Allahabad surkha, Farrukhabad prints, Lucknow zardozi and Kashmir walnut wood carvings.
During an agri intervention in a WTO session, commerce and industry minister Piyush Goyal said that the World Food Programme (WFP) over the last few years has demonstrated its inability to really ramp up supplies to the countries in distress.
The 164-member trade body is seeking to reach two agreements at a major meeting of trade ministers this week in Geneva on steps to alleviate a food crisis that threatens the least developed and most vulnerable countries.
"Economic resilience demands that we balance production and consumption more locally. That is the basis on which we are investing," Sridhar Vembu tweeted.
Piyush Goyal said that the member countries of the World Trade Organisation (WTO) have let down the people of the LDCs (least developed countries) and developing nations.
Meanwhile, a source said that there is a discussion in the WTO (World Trade Organisation) on issuing a declaration that says countries will not impose export restrictions on the procurements made by WFP (World Food Programme).