Amitabh Kumar, Additional Secretary in the Commerce Ministry, emphasized the importance of maintaining the World Trade Organization’s consensus-based decision-making and special treatment for developing nations. He cautioned against the increasing use of plurilateral approaches and non-tariff measures. The discussion highlighted the challenges faced by the WTO’s dispute settlement mechanism, especially the Appellate Body’s non-functionality since 2019.
Senior policymakers and experts, in a virtual discussion, analyzed the evolving role of the WTO in regulating multilateral trade amidst emerging geopolitical, technological, and economic challenges. The erosion of fundamental principles like the most-favoured-nation obligation and the rise of national security exceptions in trade measures were also addressed.
Prof. Mark Wu from Harvard Law School examined various factors impacting the WTO, such as geopolitical tensions, technological advancements, and global economic disparities. These factors were noted to influence a transitional phase for the multilateral trading system, affecting the future role and operations of the WTO.
Former Ambassador and Permanent Representative to the WTO, Ujal Singh Bhatia, stressed the interconnectedness of carbon governance and global justice. Experts scrutinized the legal, ethical, and economic implications of climate action tools like CBAM and other carbon pricing mechanisms. The emphasis was on balancing trade competitiveness with climate responsibilities and ensuring fair outcomes for developing countries.
The event convened academicians, researchers, professionals, and students to discuss sustainable trade practices and reinforce the significance of collaborative academic efforts in shaping inclusive global trade governance frameworks.
