World Trade Organisation Ministerial Conference

Why in News?

• Twelfth World Trade Organisation Ministerial Conference all set to begin in Geneva, Switzerland after a gap of almost five years

About

• India is set to take part in the conference and the Indian delegation would be led by Union Minister for Commerce and Industry, Shri Piyush Goyal

• India is a founding member of the WTO since 1 January 1995 and a member of GATT since 8 July 1948.

• The key areas of discussions and negotiations this year’s conference include Agriculture issues including Public Stockholding for Food security, Fisheries subsidies negotiations, and WTO Reforms

• An important issue relates to protection of India’s food grain procurement programme at Minimum Support Prices (MSP). WTO rules limit the subsidy that can be provided to agricultural products. Improvements are being sought by developing countries over the Bali peace clause, under which members would exercise due restraint (commonly termed as ‘peace clause’) in raising disputes in respect of public stockholding programmes for food security purposes, even if countries exceeded their permissible limits

• India is keen to finalize the fisheries agreement in the upcoming conference. India needs Special and Differential Treatment to protect the livelihoods of poor fishers and address food security concerns of a nation, have the necessary policy space for developing the fisheries sector, and sufficient time for to put in place systems to implement the disciplines under Over Capacity and Over Fishing, Illegal, Unreported Unregulated and Over Fished

• India believes that WTO reforms discussions must focus on strengthening its fundamental principles, preserving Special and Differential Treatment (S&DT) including consensus-based decision making and non-discrimination