Development includes several things apart from trade: Nirmala Sitharaman
The Dollar Business Bureau Nirmala Sitharaman, Minister of Trade, India, has expressed concerns that some countries have started equating only free trade with development. Speaking at The Partnership Summit 2015 in Jaipur, India, in the presence of Roberto Azevedo, Director General, World Trade Organisation (WTO) today, Sitharaman said that while the WTO’s steps against protectionism is praiseworthy, it must be more responsive to the needs of developing and least-developed countries. Sitharaman said that in today’s world, the share of Least Developed Countries (LDCs) in global trade stands at around 1% and such countries face challenges in sustaining the growth, creating jobs, and ensuring inclusive development. “Development encompasses other things besides trade including the burden to feed over 32% of India’s ...
Open trade is a great tool to fight malnutrition: WTO
Sachin Manawaria | @TheDollarBiz Source - World Life Expectancy The least developed countries (LDCs) are the ones where malnutrition is at the highest, and multilateralism can play a significant role in addressing this problem, David Shark, Deputy Director-General, World Trade Organisation (WTO), said at the Second International Conference on Nutrition in Rome this week. Facts show that improved economic activity and trade in a country aids in the improvement in the per capita income of its citizens. According to the United Nation’s Food and Agriculture Organisation (FAO) estimates, nearly 870 million people of the 7.1 billion people in the world (or one in eight) suffer from chronic undernourishment. Of this, almost 852 million are from developing countries, and represent around 15% ...
Indias agri exports fastest growing in the world: USDA
Bidhu Bhushan Palo | @TheDollarBiz Growing production due to government support is behind India's agri export competitiveness, says report India’s agri exports have grown at a rate of over 21% in the last decade (2003-2013) helped by government support and a changing export matrix, according to a new report by the US Department of Agriculture (USDA). India’s rapid growth overshadows the growth rate of 15% recorded by Brazil, 12% by China and 9% by USA in the sector in the last ten years. Last year, India overtook Australia to become the world’s seventh largest exporter of agricultural products (up from the 13th position in 2003), and in terms of net exports, India is now the world’s sixth-largest net exporter of agricultural ...
WTO work paralysed by deadlock on Bali Package: Roberto Azevdo
The Dollar Business Bureau | @TheDollarBiz “There is now a growing distrust which is having a paralysing effect on our work across the board,” WTO chief said in the formal meeting of the Trade Negotiations Committee on October 16, 2014 (Pic. source - WTO) Roberto Azevêdo, Director-General, World Trade Organisation (WTO), has said that while there is no link, legal or formal, between the Trade Facilitation Agreement (TFA) and public food stockholding limits, an important political linkage has been made. This raises questions about WTO’s effectiveness in trade negotiations, he said. WTO members had agreed to adopt TFA by July 31, 2014, but it hasn’t happened so far mainly due to India’s reluctance. Despite consultations held by WTO and other ...
