New Delhi: India will emphasise the importance of respecting the multilateral mandate of the World Trade Organization (WTO), prioritising food security, safeguarding the livelihoods of small farmers and fishers, and ensuring adequate policy space for developing economies, particularly in emerging areas such as digital trade, and supports initiatives that facilitate investment flows into developing countries at the 14th ministerial conference (MC14) which is set take place in Yaoundé, Cameroon from March 26-29, the government said Wednesday.
The key agenda items for discussion include WTO reform, the E-Commerce Work Programme and Moratorium, Investment Facilitation for Development (IFD), fisheries subsidies, and issues related to agriculture and development, it added.
New Delhi has sought a permanent solution on Public Stockholding (PSH) for food security purposes, effective Special and Differential Treatment (S&DT) provisions for developing countries and least developed countries, and the restoration of a fully functional, automatic, and binding dispute settlement mechanism
“On the IFD agenda, India said it supports initiatives that facilitate investment flows into developing countries, including LDCs…A permanent solution on PSH remains critical for India,” the commerce and industry ministry said in a statement.
While 120-odd members backing the IFD, claim that it will help streamline procedures and improve transparency to facilitate international investments, around 40 members including India have raised concerns as it would create a pre-investment appeal system to screen investments through an independent body, constraining policy flexibility.
PSH is crucial given that a significant proportion of farmers are low-income and resource-constrained, relying on the Minimum Support Price system for price assurance and livelihood security. On fisheries subsidies, India has advocated for a balanced approach that addresses sustainability concerns while protecting the livelihoods of fishers. New Delhi has also emphasised that distant water fishing nations should undertake proportionate responsibilities, including progressive reduction of their distant water fishing capacities.
The Indian delegation will be led by commerce and industry minister of Piyush Goyal.
With regard to the e-commerce moratorium, India has highlighted the rapidly evolving nature of the digital economy, particularly in the context of emerging technologies, and the need for policy space to enable countries to effectively harness these developments.
“India’s engagement at MC14 will remain constructive, balanced, and development-oriented,” the ministry said, adding India will continue to support meaningful WTO reform aimed at strengthening the multilateral trading system, while keeping development concerns at its core.
India has reiterated the principle of non-discrimination as foundational to the WTO framework.
As per the statement, on the sidelines of MC14, bilateral meetings are scheduled at the level of the minister and commerce secretary Rajesh Agrawal with their counterparts.
“These engagements will provide an opportunity to exchange views on key agenda items and discuss bilateral trade issues,” it said.
Agrawal on Wednesday held a meeting with Deputy US Trade Representative Joseph Barloon, and discussed issues related to the WTO's ministerial conference and ways to further expand bilateral trade ties.
The meeting was held in Yaounde, the capital city of Cameroon.
“They had detailed discussions on the "MC14 agenda and explored strategic ways to further deepen our economic cooperation and bilateral trade ties”, the Department of Commerce said in a post on X.
He also met Paula Estévez Weinstein, Vice-Minister of International Economic Relations of Chile, on the sidelines of WTO MC14. wherein they discussed progress in India–Chile CEPA negotiations, its early conclusion, and explored ways to further strengthen bilateral economic cooperation and trade.
During his meeting with Patricia Frutos, Vice-Minister for International Trade and Integration of Paraguay, on the sidelines of WTO MC14, he had a “productive discussions on the MC14 agenda and enhancing bilateral trade”.
The key agenda items for discussion include WTO reform, the E-Commerce Work Programme and Moratorium, Investment Facilitation for Development (IFD), fisheries subsidies, and issues related to agriculture and development, it added.
New Delhi has sought a permanent solution on Public Stockholding (PSH) for food security purposes, effective Special and Differential Treatment (S&DT) provisions for developing countries and least developed countries, and the restoration of a fully functional, automatic, and binding dispute settlement mechanism
“On the IFD agenda, India said it supports initiatives that facilitate investment flows into developing countries, including LDCs…A permanent solution on PSH remains critical for India,” the commerce and industry ministry said in a statement.
While 120-odd members backing the IFD, claim that it will help streamline procedures and improve transparency to facilitate international investments, around 40 members including India have raised concerns as it would create a pre-investment appeal system to screen investments through an independent body, constraining policy flexibility.
PSH is crucial given that a significant proportion of farmers are low-income and resource-constrained, relying on the Minimum Support Price system for price assurance and livelihood security. On fisheries subsidies, India has advocated for a balanced approach that addresses sustainability concerns while protecting the livelihoods of fishers. New Delhi has also emphasised that distant water fishing nations should undertake proportionate responsibilities, including progressive reduction of their distant water fishing capacities.
The Indian delegation will be led by commerce and industry minister of Piyush Goyal.
With regard to the e-commerce moratorium, India has highlighted the rapidly evolving nature of the digital economy, particularly in the context of emerging technologies, and the need for policy space to enable countries to effectively harness these developments.
“India’s engagement at MC14 will remain constructive, balanced, and development-oriented,” the ministry said, adding India will continue to support meaningful WTO reform aimed at strengthening the multilateral trading system, while keeping development concerns at its core.
India has reiterated the principle of non-discrimination as foundational to the WTO framework.
As per the statement, on the sidelines of MC14, bilateral meetings are scheduled at the level of the minister and commerce secretary Rajesh Agrawal with their counterparts.
“These engagements will provide an opportunity to exchange views on key agenda items and discuss bilateral trade issues,” it said.
Agrawal on Wednesday held a meeting with Deputy US Trade Representative Joseph Barloon, and discussed issues related to the WTO's ministerial conference and ways to further expand bilateral trade ties.
The meeting was held in Yaounde, the capital city of Cameroon.
“They had detailed discussions on the "MC14 agenda and explored strategic ways to further deepen our economic cooperation and bilateral trade ties”, the Department of Commerce said in a post on X.
He also met Paula Estévez Weinstein, Vice-Minister of International Economic Relations of Chile, on the sidelines of WTO MC14. wherein they discussed progress in India–Chile CEPA negotiations, its early conclusion, and explored ways to further strengthen bilateral economic cooperation and trade.
During his meeting with Patricia Frutos, Vice-Minister for International Trade and Integration of Paraguay, on the sidelines of WTO MC14, he had a “productive discussions on the MC14 agenda and enhancing bilateral trade”.