New Delhi, March 28: Union Commerce and Industry Minister Piyush Goyal has stressed the importance of consensus-based decision-making and addressing structural imbalances in global trade as WTO members deliberated on reform issues during the second day of the 14th Ministerial Conference (MC14) in Cameroon.
Leading the Indian delegation, Goyal said that consensus remains the bedrock of the WTO’s legitimacy and cautioned against undermining the sovereign right of members to not be bound by rules they do not agree to.
Speaking on decision-making and past mandates, the union minister stressed the need to rebuild trust among members to overcome the current impasse, while calling for a comprehensive stocktaking of its underlying causes.
India also stressed that discussions must remain transparent, inclusive and member-driven, warning that fragmentation within the institutional framework would weaken the multilateral trading system, the Ministry of Commerce and Industry said.
On ensuring a level-playing field, India highlighted the need to address asymmetries stemming from the Uruguay Round and prioritise long-pending issues such as food security, public stockholding (PSH), special safeguard mechanism (SSM) and cotton before taking up new subjects, according to the ministry.
India also flagged the continued dysfunction of the WTO’s dispute settlement system, noting that without effective adjudication, rules lose enforceability and disproportionately impact smaller economies. (IANS)
