THE 13TH MINISTERIAL conference of the World Trade Organisation (WTO) ended without any significant progress on further liberalisation of world trade, even as 'non-trade issues'were kept in abeyance. The muted outcome reflected the large divergence between leading members on key issues and the focus on self-interest rather than multilaterliasm in a polarised world.
It decided to extend the moratorium on taxation of cross-border electronic transmissions for another two years but could not take any decision on a permanent solution on public stockholding of food grains for food security and fisheries subsidies which were key Indian demands.
Lack of decision on public stockholding at the meeting, however, does not impact government procurement of food grains and public distribution system as India has had a permanent peace clause in perpetuity since 2014.
Under the peace clause, India's intervention in the food grain markets for the livelihood security of farmers and food security of the population cannot be challenged in the dispute settlement system of the WTO.
Denne historien er fra March 03, 2024-utgaven av Financial Express Mumbai.
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Denne historien er fra March 03, 2024-utgaven av Financial Express Mumbai.
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