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Searched Tag: 13th ministerial meeting of wto

Thailand has decided to recall its Ambassador to the World Trade Organization (WTO) following a sharp rebuke from India over remarks regarding New Delhi's rice procurement program.

Thailand replaces WTO ambassador over 'offensive' remarks against India's public stockholding

March 2, 2024, 11:34 AM - 2 min read

The diplomatic row erupted after Pitfield's remarks during a consultation meeting on Tuesday, where she criticized India's rice procurement program at the Minimum Support Price (MSP), alleging that it was being utilized not for the benefit of Indian citizens but to gain an edge in the global export market.

Union Commerce and Industry Minister Piyush Goyal announced India's support for 22 countries seeking World Trade Organization (WTO) membership, asserting the nation's leadership role in the Global South.

"Twenty two countries applied for WTO membership, India will support as leader of global South", says Piyush Goyal

February 29, 2024, 12:56 PM - 2 min read

During the conference, South East Asian nations, Comoros, and Timor-Leste officially joined the WTO. Goyal emphasized Prime Minister Modi's advocacy for their inclusion, saying, "PM Modi urged that both countries should get a place in the WTO. We are pleased that both countries got inducted."

India would benefit from a move of over 70 nations like the UK, UAE and Australia that have agreed to take on additional obligations in the services sector under an agreement of the WTO, an official said on Tuesday.

Over 70 WTO nations agree to take additional obligations in services sector, India to benefit from the move

February 28, 2024, 02:01 PM - 2 min read

As per estimates, the move will help reduce services trade costs by 10 per cent for lower-middle income economies and 14 per cent for upper-middle income economies, with overall savings of USD 127 billion. Albania, Argentina, Australia, Bahrain, Brazil, Canada, China, Colombia, Costa Rica, Japan, Korea, New Zealand, Norway, Saudi Arabia, Singapore, Switzerland, United Arab Emirates, the UK and US are part of the initiative.

India has taken a firm stance against a proposal led by China regarding investment facilitation at the World Trade Organization (WTO)

India opposes China-led investment facilitation proposal at WTO

February 28, 2024, 11:36 AM - 2 min read

The four-day conference, which commenced on February 26, has become a platform for contentious discussions regarding the inclusion of non-trade issues within the WTO framework. An official representing India stated, "India believes that the WTO should deal with issues related to trade and this is a non-trade issue and India is against bringing this into the WTO framework."

The WTO chief lets cat out the bag regarding Union Minister Piyush Goyal's absence from the ongoing WTO Summit being held in Abu Dhabi. He points the minister is contesting for Lok Sabha polls.

Piyush Goyal's absence from WTO summit fuels speculation

February 27, 2024, 01:54 PM - 2 min read

Okonjo-Iweala's remarks inadvertently confirmed widespread speculation surrounding Goyal's potential candidacy for a Mumbai Lok Sabha seat, his hometown. Although the Bharatiya Janata Party (BJP) has yet to disclose its electoral strategy, several ministers, including Labour and Environment Minister Bhupender Yadav and Education Minister Dharmendra Pradhan, are reportedly preparing for electoral contests.

Trade ministers from around the globe convened today in Abu Dhabi for the 13th Ministerial Conference (MC13) of the World Trade Organization (WTO).

High stakes: WTO ministers meet in Abu Dhabi amidst geopolitical turmoil

February 26, 2024, 02:05 PM - 2 min read

The looming U.S. presidential elections add further pressure on the WTO to make progress on reform. Diplomatic sources suggest that the current meeting represents the last opportunity before the elections, highlighting the need to address longstanding issues.