Commerce Ministry to discuss issues related to WTO agenda
The Dollar Business Bureau
Senior officials of the Ministry of Commerce will discuss and deliberate upon several major issues with regards to World Trade Organisation (WTO) in New Delhi this week.
Indian officials posted at the WTO headquarter in Geneva (Switzerland), including JS Deepak - Permanent Representative of India to WTO, will take part in the deliberations, according to an official.
The key issues that would be discussed include the matters related to the upcoming WTO ministerial conference in December in Argentina, subsidies on fisheries and permanent resolution on government’s stock-holding of foodgrains for the purpose of food security.
The WTO ministerial conference is the topmost body for decision making.
The issue pertaining to food security concerns various developing countries which offer foodgrain at subsidised rate to their poor.
The discussions assume importance as key member nations of WTO, including India, will be meeting in Morocco in October for having deliberations on the agenda to be formally discussed at ministerial meeting in Argentina.
India is pitching to finalise the unresolved agenda including finding a permanent resolution to the food stockpiling issue.
Besides, the country wants member nations to have discussions on a proposal put forward by it for trade facilitation in services.
However, developed nations, including the US, are asserting to include certain new issues such as e-commerce and investment facilitation in the WTO agenda.
India has specified that deliberations upon new issues could turn away the attention from priority matters.
Procurement and public stockpiling of foodgrains for food security are vital instrumentalities followed by developing nations where agriculture is primarily dependent on rain and markets are inadequate and not integrated.