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India Gazette
8 hours 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)
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Business Standard
9 hours ago
- Business
- Business Standard
India urges WTO to act on non-tariff barriers, ensure dispute resolution
India has called for action to curb non-tariff barriers, address trade distortions caused by non-market economies, and restore a strong dispute settlement mechanism at the WTO, Commerce and Industry Minister Piyush Goyal said on Wednesday. The minister also pitched for strengthening the current consensus-based approach at the World Trade Organisation (WTO), the special and differential treatment given to less developed countries and developing countries, and bringing back focus on issues that have already been finalised and mandated at previous ministerial meetings. "India made a strong pitch for addressing non-tariff barriers that certain countries use to deprive others of market access, take necessary action against non-market economies, ensure that we have a strong dispute settlement mechanism at the WTO so that finality can be brought and discipline can be maintained," Goyal told reporters here. The minister made these remarks in a meeting of about 25 ministers of WTO member countries, including Australia, Singapore, France and Nigeria. WTO Director General Ngozi Okonjo-Iweala also participated in the meeting. This mini-ministerial informal gathering was called by Australia ahead of the 14th ministerial conference, scheduled in Cameroon in March next year. It was held on the margins of the OECD (Organisation for Economic Co-operation and Development) Ministerial Council Meeting here. The 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. It is a Geneva-based 166-member body. Since 2009, the WTO's dispute settlement mechanism has not been functioning properly as the US has stalled appointments of members in the appellate body. On earlier occasions, India has pressed for a two-tier dispute resolution system at the WTO. "All in all, the shared concerns of all the ministers were placed before the gathering today, and 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. He added that it was agreed upon by the member nations to make an effort to bring back the mojo into the organisation as all countries recognise the importance of multilateralism. The other tracks which came up for discussion include resolving agri issues, including finding a permanent solution to the issues of public stockholding for food grains. "There is the track on finding solutions to address the concerns of overfishing and indiscriminate fishing that is leading to depletion of fish stocks, there are concerns about several JSIs (joint statement initiatives) (or) pluri-laterals, which some countries believe should be brought within the multi-lateral framework," he said. On the China-led proposal for an investment facilitation pact, he said, issues that have been mandated at the WTO should get priority and should be the first issues to be resolved. Issues going beyond trade (like this proposal) should not be brought into it as it would create further differences between member countries, he added. India is against this proposal. Whether any member raised the issue of MPIA (multi party interim appeal arbitration arrangement), the minister said only one or two members spoke about that. "But 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," he said. The MPIA is being pushed by certain members. It is an alternative mechanism to resolve WTO disputes that are appealed by a country in the absence of a functional WTO Appellate Body. Whether the WTO is facing an existential crisis, he said that one should not jump to the conclusion that an existential crisis has been created. "Challenges will come and situations will arise, we have to address such challenges, face these situations and within the ambit of the WTO framework," he said, adding "the WTO now is about 30 years old, what we need to do is work with an open mind and unlock possibilities".
The Hindu
11 hours ago
- Business
- The Hindu
India calls for WTO action on non-tariff barriers, ensuring strong dispute resolution mechanism
India has called for action to curb non-tariff barriers, address trade distortions caused by non-market economies, and restore a strong dispute settlement mechanism at the WTO, Commerce and Industry Minister Piyush Goyal said on Wednesday (June 4, 2025). The Minister also pitched for strengthening the current consensus-based approach at the World Trade Organisation (WTO), the special and differential treatment given to less developed countries and developing countries, and bringing back focus on issues that have already been finalised and mandated at previous ministerial meetings. "India made a strong pitch for addressing non-tariff barriers that certain countries use to deprive others of market access, take necessary action against non-market economies, ensure that we have a strong dispute settlement mechanism at the WTO so that finality can be brought and discipline can be maintained," Mr. Goyal told reporters here. The Minister made these remarks in a meeting of about 25 Ministers of WTO member countries, including Australia, Singapore, France and Nigeria. WTO Director General Ngozi Okonjo-Iweala also participated in the meeting. This mini-ministerial informal gathering was called by Australia ahead of the 14th ministerial conference, scheduled in Cameroon in March next year. It was held on the margins of the OECD (Organisation for Economic Co-operation and Development) Ministerial Council Meeting here. The 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. It is a Geneva-based 166-member body. Since 2009, the WTO's dispute settlement mechanism has not been functioning properly as the U.S. has stalled appointments of members in the appellate body. On earlier occasions, India has pressed for a two-tier dispute resolution system at the WTO. "All in all, the shared concerns of all the Ministers were placed before the gathering today, and 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. He added that it was agreed upon by the member nations to make an effort to bring back the mojo into the organisation as all countries recognise the importance of multilateralism. The other tracks which came up for discussion include resolving agri issues, including finding a permanent solution to the issues of public stockholding for food grains. "There is the track on finding solutions to address the concerns of overfishing and indiscriminate fishing that is leading to depletion of fish stocks, there are concerns about several JSIs (joint statement initiatives) (or) pluri-laterals, which some countries believe should be brought within the multi-lateral framework," he said. On the China-led proposal for an investment facilitation pact, he said, issues that have been mandated at the WTO should get priority and should be the first issues to be resolved. Issues going beyond trade (like this proposal) should not be brought into it as it would create further differences between member countries, he added. India is against this proposal. Whether any member raised the issue of MPIA (multi party interim appeal arbitration arrangement), the minister said only one or two members spoke about that. "But 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," he said. The MPIA is being pushed by certain members. It is an alternative mechanism to resolve WTO disputes that are appealed by a country in the absence of a functional WTO Appellate Body. Whether the WTO is facing an existential crisis, he said that one should not jump to the conclusion that an existential crisis has been created. "Challenges will come and situations will arise, we have to address such challenges, face these situations and within the ambit of the WTO framework," he said, adding "the WTO now is about 30 years old, what we need to do is work with an open mind and unlock possibilities".
Time of India
11 hours ago
- Business
- Time of India
India calls for WTO action on non-tariff barriers, ensuring strong dispute resolution mechanism
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel India has called for action to curb non-tariff barriers, address trade distortions caused by non-market economies, and restore a strong dispute settlement mechanism at the WTO, Commerce and Industry Minister Piyush Goyal said on minister also pitched for strengthening the current consensus-based approach at the World Trade Organisation (WTO), the special and differential treatment given to less developed countries and developing countries, and bringing back focus on issues that have already been finalised and mandated at previous ministerial meetings."India made a strong pitch for addressing non-tariff barriers that certain countries use to deprive others of market access, take necessary action against non-market economies, ensure that we have a strong dispute settlement mechanism at the WTO so that finality can be brought and discipline can be maintained," Goyal told reporters minister made these remarks in a meeting of about 25 ministers of WTO member countries, including Australia, Singapore, France and Nigeria. WTO Director General Ngozi Okonjo-Iweala also participated in the mini-ministerial informal gathering was called by Australia ahead of the 14th ministerial conference, scheduled in Cameroon in March next year. It was held on the margins of the OECD (Organisation for Economic Co-operation and Development) Ministerial Council Meeting 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. It is a Geneva-based 166-member 2009, the WTO's dispute settlement mechanism has not been functioning properly as the US has stalled appointments of members in the appellate body. On earlier occasions, India has pressed for a two-tier dispute resolution system at the WTO."All in all, the shared concerns of all the ministers were placed before the gathering today, and 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 added that it was agreed upon by the member nations to make an effort to bring back the mojo into the organisation as all countries recognise the importance of other tracks which came up for discussion include resolving agri issues, including finding a permanent solution to the issues of public stockholding for food grains."There is the track on finding solutions to address the concerns of overfishing and indiscriminate fishing that is leading to depletion of fish stocks, there are concerns about several JSIs (joint statement initiatives) (or) pluri-laterals, which some countries believe should be brought within the multi-lateral framework," he the China-led proposal for an investment facilitation pact , he said, issues that have been mandated at the WTO should get priority and should be the first issues to be going beyond trade (like this proposal) should not be brought into it as it would create further differences between member countries, he added. India is against this any member raised the issue of MPIA (multi party interim appeal arbitration arrangement), the minister said only one or two members spoke about that."But 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," he MPIA is being pushed by certain members. It is an alternative mechanism to resolve WTO disputes that are appealed by a country in the absence of a functional WTO Appellate the WTO is facing an existential crisis, he said that one should not jump to the conclusion that an existential crisis has been created."Challenges will come and situations will arise, we have to address such challenges, face these situations and within the ambit of the WTO framework," he said, adding "the WTO now is about 30 years old, what we need to do is work with an open mind and unlock possibilities".
RTHK
15 hours ago
- Business
- RTHK
China calls on WTO for greater oversight on tariffs
China calls on WTO for greater oversight on tariffs Commerce Minister Wang Wentao meets the Director-General of the WTO Ngozi Okonjo-Iweala in Paris. Photo courtesy of Commerce Ministry. Commerce Minister Wang Wentao has called on the World Trade Organization to strengthen supervision over unilateral tariffs, and put forward objective and neutral policy proposals, the ministry said on Wednesday. Wang met the Director-General of the WTO Ngozi Okonjo-Iweala on the sidelines of the Organisation for Economic Cooperation (OECD) Ministerial Council Meeting (MCM) in Paris, France on Tuesday, where they held in-depth discussions on the severe global trade situation and WTO reforms, according to a statement released by the Ministry of Commerce on Wednesday. Wang reiterated China's stance on upholding a multilateral trading system and said the WTO has the country's backing for a more important role in global economic governance. Wang also met with European Trade Commissioner Maros Sefcovic and had a "pragmatic and frank" discussion with his Canadian counterpart. On WTO reforms, China supports promptly restoring the normal functioning of the dispute settlement mechanism, exploring more flexible, efficient, and responsible consensus-based decision-making approaches, accelerating the entry into force of agreements on fisheries subsidies, investment facilitation, and e-commerce, while initiating discussions on trade and environment, supply chain resilience, and artificial intelligence, Wang said. Besides, WTO also "signed an MOU with Minister Wang to renew China's support of WTO's Least-Developed Countries (LDCs) and Accessions Programme," Okonjo-Iweala wrote in a post on X on Wednesday. (Agencies)
