Tuesday, June 3, 2025
HomeEconomyIndia for fast-tracking talks in WTO on special safeguard mechanism

India for fast-tracking talks in WTO on special safeguard mechanism

-

[ad_1]

India has pitched for fast-tracking negotiations in the WTO on special safeguard mechanism (SSM), which would allow developing countries to temporarily raise tariffs on agricultural imports in response to import surges or price drops, an official said. The country flagged the issues during a meeting of a committee on agriculture issues in Geneva on December 4.

In the meeting, India emphasized on the need to prioritize unresolved mandated issues such as a permanent solution to public stockholding, SSM, and cotton, treating them as standalone issues.

“India highlighted the Nairobi Ministerial Decision’s mandate to prioritize and fast-track SSM negotiations, calling for modalities that are simple, operational, and equitable,” the Geneva-based official said.

Regarding Guyana’s proposal, India reiterated that any facilitator-led processes should be consensus-based and respect WTO’s (World Trade Organization) multilateral principles, rejecting the non-traditional approach based on convergence.

Guyana has presented a new proposal to advance agricultural negotiations ahead of MC14 (ministerial conference). The 14th conference is tentatively scheduled to take place in Cameroon (Africa) in 2026.


Further India has urged members to conduct text-based negotiations on finding permanent solution to public food stockholding. Under text-based negotiations in WTO, an agreement is finalised around draft texts floated by the chair of a particular committee dealing with the subject. The draft is based on discussions amongst the member countries and is fine-tuned till all the nations are in agreement with it.

Nominations for ET MSME Awards are now open. The last day to apply is December 15, 2024. Click here to submit your entry for any one or more of the 22 categories and stand a chance to win a prestigious award.

[ad_2]

Source link

LATEST POSTS

WitchSpin Casino: Daily ₱777 Bonus Explained

Online casinos attract players by offering exciting games and generous bonuses. One of the most popular features of WitchSpin Casino is its daily ₱777 bonus....

Gaming and Adventure Combined: The Ultimate Guide for Norwegian Tourists

For many Norwegian tourists, traveling is all about exploring new places, immersing themselves in different cultures, and seeking unforgettable adventures. But what if your journey...

Non-Disclosure Agreement for Customer Privacy Protection

In today's digital age, privacy concerns are more significant than ever, especially when it comes to safeguarding the personal and sensitive information of customers. Businesses...

How to Analyze Odds for a Spot Bet

The adrenaline rush of Spot Bet—placing wagers while the action unfolds—attracts countless sports enthusiasts seeking to capitalize on their real-time insights. Yet beneath this thrilling...

Most Popular

spot_img