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India Gazette
3 hours ago
- Business
- India Gazette
India demands WTO action on trade barriers, dispute resolution reform
Paris [France], June 4 (ANI): India has pushed for comprehensive World Trade Organization (WTO) reforms, calling for decisive action against non-tariff barriers and restoration of the paralysed dispute settlement mechanism during high-level ministerial discussions in Paris. Commerce and Industry Minister Piyush Goyal outlined India's reform agenda at a mini-ministerial gathering of 25 WTO member countries, emphasising the need to address trade distortions and strengthen multilateral governance ahead of next year's crucial ministerial conference. Speaking to reporters after the Australia-convened meeting, Minister Goyal articulated India's three-pronged approach to WTO modernisation. 'India made a strong pitch for addressing non-tariff barriers that certain countries use to deprive others of market access, taking necessary action against non-market economies, and ensuring we have a strong dispute settlement mechanism,' he said. The minister emphasised preserving the WTO's consensus-based decision-making process while maintaining special treatment for developing nations - principles India views as fundamental to the trading system's legitimacy. India's concerns are central to the WTO's crippled dispute settlement system, which has been effectively non-functional since 2009 due to US opposition to appellate body appointments. The paralysis has left countries without recourse when trade disputes arise, undermining the organisation's enforcement capacity. While some members have promoted the Multi-Party Interim Appeal Arbitration Arrangement (MPIA) as an alternative, Minister Goyal expressed scepticism about its effectiveness. 'Only one or two members spoke about that, but there doesn't seem to be much consensus or traction to that idea. I haven't heard of any cases resolved through MPIA,' he noted. India firmly rejected attempts to expand the WTO's mandate beyond traditional trade issues, particularly opposing the China-led Investment Facilitation for Development proposal backed by 128 countries. Minister Goyal argued that such initiatives would fragment the multilateral system and create new divisions among members. 'Issues that have been mandated at the WTO should get priority and should be the first issues to be resolved,' he said. 'Issues going beyond trade should not be brought into it as it would create further differences between member countries.' The discussions addressed several longstanding challenges, including agricultural trade reforms and environmental concerns. Key agenda items included finding permanent solutions for public food grain stockholding programs and addressing overfishing practices that threaten marine ecosystems. Minister Goyal highlighted the need to resolve existing mandated issues before introducing new frameworks, reflecting India's preference for completing unfinished business rather than expanding the organisation's scope. Despite growing tensions within the 166-member organisation, Minister Goyal rejected suggestions that the WTO faces an existential crisis. 'One should not jump to the conclusion that an existential crisis has been created,' he said, calling for pragmatic problem-solving within existing frameworks. The minister emphasised collective commitment among participating countries to revitalise the organisation. 'We have all resolved to collectively work to strengthen the working of the WTO, to ensure core principles are respected and work towards global good and global growth in trade,' he stated. (ANI)
Economic Times
a day ago
- Business
- Economic Times
WTO chief urges India to support proposal on investment facilitation
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Paris, World Trade Organization chief Ngozi Okonjo-Iweala on Tuesday urged India to support the China-led proposal on investment facilitation for development as several developing countries are backing the Director General of the Geneva-based body said she discussed several issues like WTO reforms and agriculture with Indian Commerce and Industry Minister Piyush Indian minister is here on an official visit."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, for example, on investment facilitation for development, we want it to support, because so many developing countries - 90 out of the 126 who are members, would like to move with this," she told reporters for agriculture, "we also need" to listen to what India's issues are and try to be supportive.A China-led group of 128 countries is pushing for the Investment Facilitation for Development (IFD) proposal. It will be binding for only the signatory members. India is against it and has opposed the initiative in the last 13th ministerial conference at Abu Dhabi as such agreements would dilute the multilateral nature of the 166-member IFD was first mooted in 2017 by China and other countries that depend heavily on Chinese investments, and countries with sovereign wealth funds are party to that pact. Among major countries, the US is also sitting out of the World Trade Organization (WTO) deals with the global rules of trade between nations. Its main function is to ensure that trade flows as smoothly, predictably and freely as WTO chief is here to participate in a mini-ministerial meeting, which is scheduled on the margins of the OECD (Organisation for Economic Co-operation and Development) Ministerial Council Meeting here. It was convened by ministers from about 25 countries, including India, Australia, and Singapore, are here to attend the meeting."We are invited by Australia to be able to talk to each other, (about) the possible reforms to the WTO," Iweala said, adding that the multilateral trading system has been disrupted in a way it hasn'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 are those things that work and should be kept and there are many," she added that still three quarters of world goods trade is taking place on WTO terms, on MFN (most favoured nation) 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...? Put that on the table. Let's collect this. And then let's try to reform it," she meeting assumes significance against the backdrop of the 14th ministerial conference is scheduled for March 26-29 in Cameroon, a Central African nation. PTI
India Gazette
a day 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)
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Business Standard
a day ago
- Business
- Business Standard
WTO chief urges India to support proposal on investment facilitation
World Trade Organization chief Ngozi Okonjo-Iweala on Tuesday urged India to support the China-led proposal on investment facilitation for development as several developing countries are backing the initiative. The Director General of the Geneva-based body said she discussed several issues like WTO reforms and agriculture with Indian Commerce and Industry Minister Piyush Goyal. The Indian minister is here on an official visit. "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, for example, on investment facilitation for development, we want it to support, because so many developing countries - 90 out of the 126 who are members, would like to move with this," she told reporters here. But for agriculture, "we also need" to listen to what India's issues are and try to be supportive. A China-led group of 128 countries is pushing for the Investment Facilitation for Development (IFD) proposal. It will be binding for only the signatory members. India is against it and has opposed the initiative in the last 13th ministerial conference at Abu Dhabi as such agreements would dilute the multilateral nature of the 166-member organisation. The IFD was first mooted in 2017 by China and other countries that depend heavily on Chinese investments, and countries with sovereign wealth funds are party to that pact. Among major countries, the US is also sitting out of the agreement. The World Trade Organization (WTO) deals with the global rules of trade between nations. Its main function is to ensure that trade flows as smoothly, predictably and freely as possible. The WTO chief is here to participate in a mini-ministerial meeting, which is scheduled on the margins of the OECD (Organisation for Economic Co-operation and Development) Ministerial Council Meeting here. It was convened by Australia. Trade ministers from about 25 countries, including India, Australia, and Singapore, are here to attend the meeting. "We are invited by Australia to be able to talk to each other, (about) the possible reforms to the WTO," Iweala said, adding that the multilateral trading system has been disrupted in a way it hasn'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 are those things that work and should be kept and there are many," she said. She added that still three quarters of world goods trade is taking place on WTO terms, on MFN (most favoured nation) 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...? Put that on the table. Let's collect this. And then let's try to reform it," she said. This meeting assumes significance against the backdrop of the 14th ministerial conference is scheduled for March 26-29 in Cameroon, a Central African nation.
Time of India
a day ago
- Business
- Time of India
WTO chief urges India to support proposal on investment facilitation
WTO chief Ngozi Okonjo-Iweala urged India to support the China-led Investment Facilitation for Development proposal, highlighting that many developing nations back the initiative. She acknowledged India's concerns regarding agriculture and emphasized the need for WTO reforms, inviting members to voice their issues. This discussion occurred during a mini-ministerial meeting focused on improving the multilateral trading system. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Paris, World Trade Organization chief Ngozi Okonjo-Iweala on Tuesday urged India to support the China-led proposal on investment facilitation for development as several developing countries are backing the Director General of the Geneva-based body said she discussed several issues like WTO reforms and agriculture with Indian Commerce and Industry Minister Piyush Indian minister is here on an official visit."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, for example, on investment facilitation for development, we want it to support, because so many developing countries - 90 out of the 126 who are members, would like to move with this," she told reporters for agriculture, "we also need" to listen to what India's issues are and try to be supportive.A China-led group of 128 countries is pushing for the Investment Facilitation for Development (IFD) proposal. It will be binding for only the signatory members. India is against it and has opposed the initiative in the last 13th ministerial conference at Abu Dhabi as such agreements would dilute the multilateral nature of the 166-member IFD was first mooted in 2017 by China and other countries that depend heavily on Chinese investments, and countries with sovereign wealth funds are party to that pact. Among major countries, the US is also sitting out of the World Trade Organization (WTO) deals with the global rules of trade between nations. Its main function is to ensure that trade flows as smoothly, predictably and freely as WTO chief is here to participate in a mini-ministerial meeting, which is scheduled on the margins of the OECD (Organisation for Economic Co-operation and Development) Ministerial Council Meeting here. It was convened by ministers from about 25 countries, including India, Australia, and Singapore, are here to attend the meeting."We are invited by Australia to be able to talk to each other, (about) the possible reforms to the WTO," Iweala said, adding that the multilateral trading system has been disrupted in a way it hasn'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 are those things that work and should be kept and there are many," she added that still three quarters of world goods trade is taking place on WTO terms, on MFN (most favoured nation) 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...? Put that on the table. Let's collect this. And then let's try to reform it," she meeting assumes significance against the backdrop of the 14th ministerial conference is scheduled for March 26-29 in Cameroon, a Central African nation. PTI
