GLOBAL TRADE

India to host informal talks to save WTO

World Trade Organization (WTO) logo pictured on their headquarters in Geneva, Switzerland | Reuters World Trade Organization (WTO) logo pictured on their headquarters in Geneva, Switzerland | Reuters

The 11th ministerial conference of WTO, held at Buenos Aires in December, 2017, had concluded on a blank note, leaving WTO delegates clueless on how to carry forward their work through the year.

In a bid to resuscitate the failed WTO talks and keep an environment of multilateralism alive, India will host a two-day informal discussion of trade ministers and officials of WTO member nations.

"We have invited delgates of 53 countries. Of this, 24 have already confirmed presence of their trade ministers. We are expecting confirmation from 14 others as well," said Rita Teotia, secretary, ministry of commerce.

New Delhi is calling this meeting the largest mini-ministerial participation on its invitation in the recent history of WTO. "The Doha Development Agenda was recently termed dead and multilateralism is at a risk across the world. In the current scenario we would like to explore the way forward during the talks here," said Anup Wadhawan, additional secretary, ministry of commerce.

The United States in the recent past had opposed three words at WTO talks – development, multilateralism and Doha Round. The US had also refused the joint ministerial statement of all nations during the Buenos Aires talks.

Interestingly, at this meeting in New Delhi, to be held between March 19-20, high-level political and government representations have been confirmed from China, Germany, UK, European Union, Brazil, Kenya, Singapore, Russia and even the US.

WTO Director General, Roberto Azevedo from Brazil and other WTO ambassadors are also expected to attend the informal discussions for carrying out the global multilateral trade body's work going ahead.

India is currently adopting a 'wait and watch' stance as the US is yet to decide on the imposition of restrictive export barriers for steel and aluminium exporting nations. India is likely to discuss the matter at the WTO ministerial talks if the US Department of Commerce decides that such restrictions would include India.

The forum would encourage participants to discuss in a free and frank manner the various issues that they expect to face with reducing multilateral trade environment. A way out is also expected to emerge from this meeting going ahead.

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