WTO ministerial meet of developing countries begins in Delhi

WTO ministerial meet of developing countries begins in Delhi

By / Business News / Tuesday, 14 May 2019 07:39

India has convened a WTO  ministerial meeting of 16 developing and six least developed countries starting Monday. Issues such as impasse on the appointment of WTO's appellate body members and way forward on reforms at the global trade body would be discussed in the meeting of developing countries in New Delhi on May 13-14.

The meeting is being held at a time when the multilateral rule-based trading system is facing serious and grave challenges. "In the recent past, there have been increasing unilateral measures and counter measures by members, deadlock in key areas of negotiations and the impasse in the appellate body, which threaten the very existence of dispute settlement mechanism of the WTO and impacts the position of the WTO as an effective multilateral organisation," commerce ministry said in a statement.

The current situation has given rise to demands from various quarters to reform the WTO, it added. The 22 countries would also try to build consensus on how to move forward on the WTO reforms, while preserving the fundamentals of the multilateral trading system, it said.

"The deliberations will aim at getting a direction on how to constructively engage on various issues in the WTO, both institutional and negotiating, in the run up to the Twelfth Ministerial Conference of the WTO to be held in Kazakhstan in June 2020," it added.

Author

Hum Hindustani

Hum Hindustani

Please publish modules in offcanvas position.