India seeks measures to tackle trade distortions
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India has called for action to address trade distortions caused by non-market economies, non-tariff barriers and restoration of a strong dispute settlement mechanism at the World Trade Organization (WTO), commerce and industry minister Piyush Goyal said on Wednesday.The minister, however, insisted that one should not jump to the conclusion that an existential crisis has been created at the multilateral trade body.At a mini-ministerial meeting called by Australia, Goyal also pitched for strengthening the current consensus-based approach at the WTO, and the special and differential treatment given to less developed countries and developing countries. 'All in all, the shared concerns of all the ministers were placed before the gathering today,' Goyal said.'We have all resolved to collectively work to strengthen the working of the WTO, to ensure the core principles are respected and work towards global good and global growth in trade,' he said, adding that issues that have already been finalised and mandated at previous ministerial meetings should be focused on.The meeting was held on the margins of the OECD Ministerial Council meeting. About 25 ministers of WTO members including Australia, the EU, Canada, Singapore and France, and WTO director general Ngozi Okonjo-Iweala participated in the meeting. Resolving agri issues including finding a permanent solution on public stockholding for food grains and finding solutions to address the concerns of overfishing and indiscriminate fishing, which are leading to depletion of fish stocks, were the other tracks discussed.'There are concerns about several JSIs (joint statement initiatives) (or) plurilaterals, which some countries believe should be brought within the multilateral framework,' he said. On the China-led proposal for an investment facilitation for development pact, the minister said that issues that have been mandated at the WTO should get priority and be the first to be resolved.Issues going beyond trade like this proposal should not be brought into, as it would create further differences between member countries, he said. On whether any member raised the multi-party interim appeal arbitration arrangement (MPIA), he said: 'There does not seem to be very much consensus or any traction to that idea... I have not heard of any cases resolved through MPIA'.(The correspondent is in Paris at the invitation of the commerce and industry ministry.)
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