Tag : WTO

New Delhi (The Hawk): The twelfth WTO Ministerial Conference is all set to begin from 12th June 2022 in Geneva, Switzerland after a gap of almost five years. The key areas of discussions and negotiations this year’s conference include WTO’s response to the pandemic, Fisheries subsidies negotiations, Agriculture issues including Public Stockholding for Food security, WTO Reforms and Moratorium on Custom Duties on Electronic Transmission. A strong Indian delegation at the Conference is being headed by Shri Piyush Goyal, Union Minister for Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles. India has a vital stake in protecting the interests of all stakeholders in the country as well as the interests of the developing and poor nations that look up to the leadership of India at multilateral forums including WTO. Agriculture In the agriculture sector, in May 2022, the DG-WTO, brought three draft texts on agriculture, trade and food security and exemption of the World Food Programme from export restrictions for negotiations. India has reservations about some of the provisions in the draft decisions and has been engaging in the process of discussions and negotiations in order to be able to preserve the rights under the Agreement on Agriculture without undermining the existing Ministerial mandates. An important issue under negotiation at the WTO relates to protection of India’s food grain procurement programme at Minimum Support Prices (MSP). Such programmes involve purchase from farmers at administered prices and are key to support to farmers and consumers in the country. WTO rules limit the subsidy that can be provided to such products being procured. This issue is being negotiated at the WTO by the G-33, ...