Commerce Minister Piyush Goyal highlighted the significance of consensus-based decision-making at the WTO’s 14th Ministerial Conference in Yaounde, Cameroon. Goyal stressed the need for the WTO to respect each member’s sovereign right to reject rules they do not agree with. India supported a time-bound restart of reform efforts and urged for a transparent assessment of the current impasse.
Goyal underscored the importance of an integrated multilateral trading system without internal fragmentation. He called for a consensus process based on openness, transparency, inclusivity, and member-driven principles. India’s proactive conservation efforts, such as the annual fishing ban, were also acknowledged, emphasizing the country’s commitment to sustainability.
During the conference, India engaged positively on issues like the moratorium on customs duties on electronic transmission. However, consensus could not be achieved among members. India advocated for a cautious approach to agriculture negotiations to maintain focus on delivering priority outcomes. The country extended support for the extension of the moratorium on non-violation and situation complaints in the TRIPS agreement.
Ministers at the conference agreed to continue negotiations on fisheries subsidies to achieve comprehensive disciplines. Goyal highlighted the need for the WTO to address long-pending issues like food security, PSH, and SSM on Cotton. India also raised concerns about the dispute settlement system’s dysfunction and cautioned against weaponizing transparency for trade retaliation.
