Latest news with #14thWTOMinisterialConference
India Gazette
5 days ago
- Business
- India Gazette
Union Minister Piyush Goyal discusses multilateral trade concerns with WTO trade ministers
ANI 04 Jun 2025, 12:10 GMT+10 Paris [France], June 4 (ANI): Union Minister for Commerce and Industry Piyush Goyal on Wednesday participated in the WTO Trade Ministers gathering in Paris, France, at the Organisation for Economic Co-operation and Development (OECD) Ministerial Council minister discussed concerns regarding the WTO (World Trade Organisation) and multilateral trade.'Participated in the WTO Trade Ministers gathering on the margins of the OECD Ministerial Council Meeting in a very good discussion on several issues concerning WTO and multilateral trade,' Union Minister tweeted on social media 'X'.On Tuesday, speaking to ANI, Ngozi Okonjo-Iweala, Director General of the World Trade Organisation, said, 'We need India as a leader 'in the 14th WTO Ministerial Conference (MC14), which will take place in Yaounde, Cameroon, from March 26 to 29, 2026.'India is a leading country, and India is doing well. So India needs to open the way for other developing countries. For example, on investment facilitation for development. We want India to support because so many developing countries, 90 out of the 126 who are members, would like to move with this. But for agriculture, we also need to listen to what India's issues are and try to be as supportive as we possibly can,' the WTO DG addedThe WTO DG also raised issues of repositioning and possible reforms to the trade body. 'Goods trade is still taking place on WTO terms, MFN terms, and members want to safeguard that, but there are things that also don't work. And when you have this kind of disruption, you ask yourself, what is it that needs to be reformed about the WTO?' said DG WTOShe added, 'What is it that developing countries like India don't like? Let them put that on the table. What is it that the US doesn't like? Put that on the table. What do Africans not like about the way the organisation? Put that on the table. Let's collect these and then let's try to reform it because most members think that it is a very valuable organisation, but it should be repositioned'. Additionally, the minister also met Brazil's Foreign Minister, Mauro Vieira. Both ministers discussed the trade between the two countries and explored options to deepen the economic partnership. (ANI)
India Gazette
5 days ago
- Business
- India Gazette
We need India as a leader; it needs to open the way for developing countries
By Shailesh Yadav Paris [France], June 3 (ANI): Ngozi Okonjo-Iweala, Director General of the World Trade Organisation, said 'we need India as a leader 'in the 14th WTO Ministerial Conference (MC14), which will take place in Yaounde, Cameroon, from March 26 to 29, 2026. 'For MC-14, you know, we need India as a leader. India is a leading country, and India is doing well. So India needs to open the way for other developing countries,' the WTO DG told reporters in Paris. Highlighting India's leadership role, she said WTO reform must include support for issues important to India, such as agriculture. She also pushed for India's backing on the Investment Facilitation for Development agreement, which is supported by 90 of the 126 participating members. 'India is a leading country, and India is doing well. So India needs to open the way for other developing countries. For example, on investment facilitation for development. We want India to support because so many developing countries, 90 out of the 126 who are members, would like to move with this. But for agriculture, we also need to listen to what India's issues are and try to be as supportive as we possibly can,' she added. Ahead of the mini-ministerial meeting hosted by Australia in Paris, WTO DG noted that the mini-ministerial meeting is crucial for setting the tone ahead of WTO ministerial Confrence. 'Most members believe the WTO is a valuable organisation, but it must be repositioned,' she said. WTO DG expressed the need for the repositioning of the multinational trading body, adding that the current disruptions to the multilateral trading system present an opportunity to drive much-needed reforms. 'Multilateral trading systems have been disrupted in a way they haven't been before. But guess what? Sometimes I see challenges as opportunities, and I think this is a very good opportunity for the WTO members to look at what those things are that work and should be kept, and there are many,' the WTO DG said. 'For example, 3/4 of world goods trade is still taking place on WTO terms, MFN terms, and members want to safeguard that, but there are things that also don't work. And when you have this kind of disruption, you ask yourself, what is it that needs to be reformed about the WTO? What is it that developing countries like India don't like? Let them put that on the table. What is it that the US doesn't like? Put that on the table. What do Africans not like about the way the organisation is? Put that on the table. Let's collect these and then let's try to reform it because most members think that it is a very valuable organisation, but it should be repositioned,' WTO DG added. The discussions gain urgency ahead of the 14th WTO Ministerial Conference scheduled for March 26-29, 2026, in Cameroon. The meeting will likely serve as a crucial test for the organisation's ability to bridge growing divisions between developed and developing nations while maintaining its multilateral foundation. The WTO chief's visit to Paris coincides with a mini-ministerial meeting on the margins of the OECD Ministerial Council Meeting, convened by Australia. Trade ministers from approximately 25 countries, including India, Australia, and Singapore, are participating in discussions about potential WTO reforms. (ANI)
New Straits Times
15-05-2025
- Business
- New Straits Times
Malaysia calls for WTO reforms to remain relevant
KUALA LUMPUR: Malaysia is urging the World Trade Organisation (WTO) to step up in its efforts in supporting developing and least-developed countries, while also undertaking reforms to remain relevant in the global trading system. Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz said this was conveyed during his meeting with WTO director-general Dr Ngozi Okonjo-Iweala. "We need to look into the issues that have made the WTO less effective than it used to be, and we must have the courage to implement changes at the WTO level," he told Bernama while attending the 31st APEC Trade Ministers' Meeting in Jeju, South Korea. He said Malaysia welcomed efforts to reform the WTO, which are expected to be discussed in greater detail at the 14th WTO Ministerial Conference (MC14) in Cameroon next year. During the meeting, Tengku Zafrul also emphasised the importance of upholding the principle of multilateralism in global trade, rather than unilateralism. "We have a WTO ambassador who is part of the team working to ensure the organisation remains relevant and continues to support all countries," he added.
The Sun
15-05-2025
- Business
- The Sun
Malaysia calls for WTO reforms to remain relevant
KUALA LUMPUR: Malaysia is urging the World Trade Organisation (WTO) to step up in its efforts in supporting developing and least-developed countries, while also undertaking reforms to remain relevant in the global trading system. Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz said this was conveyed during his meeting with WTO director-general Dr Ngozi Okonjo-Iweala. 'We need to look into the issues that have made the WTO less effective than it used to be, and we must have the courage to implement changes at the WTO level,' he told Bernama while attending the 31st APEC Trade Ministers' Meeting in Jeju, South Korea. He said Malaysia welcomed efforts to reform the WTO, which are expected to be discussed in greater detail at the 14th WTO Ministerial Conference (MC14) in Cameroon next year. During the meeting, Tengku Zafrul also emphasised the importance of upholding the principle of multilateralism in global trade, rather than unilateralism. 'We have a WTO ambassador who is part of the team working to ensure the organisation remains relevant and continues to support all countries,' he added.
