Union Minister Piyush Goyal and others leaders at the WTO Trade Ministers’ gathering on the sidelines of the OECD Ministerial Council Meeting, in Paris. Pics/PTI
India strongly advocated for comprehensive reforms at the World Trade Organization (WTO), urging decisive steps to eliminate non-tariff barriers and revive the paralysed dispute settlement mechanism during high-level ministerial talks held in Paris
After the Australia-convened meeting, Minister Piyush Goyal outlined India’s three-pronged approach to WTO modernisation, focusing on the need to tackle non-tariff barriers that restrict market access, take firm action against non-market economies and strengthen the organisation’s dispute settlement mechanism
Piyush Goyal met with Nigeria’s Minister for Trade, Industry and Investment, Jumoke Oduwole, during his visit. In the meeting, he reiterated the importance of preserving the WTO’s consensus-based decision-making process and upholding special treatment for developing nations—principles that India considers essential to maintaining the legitimacy of the global trading system
During a meeting the meeting Goyal meet with Renault CEO Luca de Meo, further Piyush Goyal expressed scepticism about the effectiveness of the Multi-Party Interim Appeal Arbitration Arrangement (MPIA), which some WTO members have promoted as an alternative to the stalled dispute settlement system. He noted that the arrangement has seen little consensus or traction among member nations and highlighted the lack of resolved cases through the MPIA so far
Union Minister Piyush Goyal met with Bernard Fontana, Chairman and CEO of EDF. In the context of WTO discussions, Goyal stressed that issues already mandated at the WTO should be prioritised and resolved first. He cautioned against introducing matters beyond traditional trade into the organisation’s agenda, warning that doing so could create further divisions among member countries
Meanwhile, India firmly opposed efforts to expand the WTO’s mandate beyond traditional trade matters, specifically rejecting the China-led Investment Facilitation for Development proposal, which is supported by 128 countries. Minister Piyush Goyal argued that introducing such initiatives would fragment the multilateral trading system and lead to deeper divisions among member nations
Union Minister Piyush Goyal met with WTO Director-General Ngozi Okonjo-Iweala during the paris meet,. However in the meet he dismissed claims of an existential crisis within the organisation. He further called for more practical solutions within existing frameworks and stressed the collective commitment of member nations to strengthen the WTO and promote global trade growth
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