The 13th Ministerial Conference (MC) of the World Trade Organization (WTO) continued for five days as the significant issues of agriculture, fisheries subsidies, and e-commerce trade duties were still on the agenda. Participating countries, including India, the US, and the EU, took part in negotiations to tackle the differences between developed and developing nations. Although a lot of work was made to find common ground, an anonymous source informed us that progress was still very limited.
On-going conversations involving nine countries in the Green Room are being attended by WTO Director-General Ngozi Okonjo-Iweala, who is ensuring that solutions are found. Nevertheless, there were signs of pessimism about getting the ministerial declaration, which is important in assessing the success of the conference, as a result of the still remaining differences. India put emphasis on the necessity of the removal of stockholding by public grains and, at the same time, wanted to stop subsidies in distant water fishing for 25 years.
Further, India pushed for the suspension of duty-free customs on e-commerce trade as it argued on the grounds of fair market access. New Delhi positions its strategy as promoting farmers’ and fishermen’s interests first. The country remains committed to finding a permanent solution to public stockholding and continues to call upon developed countries to halt subsidies for distant water fishing. Despite the fact that wealthier countries may still have different views when it comes to agricultural products, market access is specifically limited by export limitations.
Going further, India continues to stand up for its stance on agricultural as well as fisheries matters, emphasizing the interests of its farmers and the sustainability of its fisheries industry. The WTO conference prolonged negotiations, reflecting the complexity of global trade settlements where participants try to balance multiple interests for fair results.
Source- THE HINDU
