September 18, 2021 4:12:27 am
The Agreement on Agriculture at the WTO was riddled with deep imbalances, which favour the developed countries, Commerce Minister Piyush Goyal has said.
He said that historical asymmetries and imbalances must be corrected to ensure a rule-based, fair and equitable order. Goyal said this while addressing the G-33 Virtual Informal Ministerial Meeting. It was organised by Indonesia on Thursday to discuss the agricultural priority issues of G-33 and the way forward for the 12th Ministerial Conference of the World Trade Organization (WTO), scheduled to be held from November 30 to December 3, an official statement said on Friday. Of a total of 47 G-33 members, representatives from 21 countries, including India, took the floor to make the brief intervention. Goyal said G-33 must strive for positive outcomes on a permanent solution to public stockholding for food security purposes, which is of utmost importance, finalisation of a special safeguard mechanism quickly and a balanced outcome on domestic support.
The Minister “highlighted that Agreement on Agriculture at the WTO was riddled with deep imbalances, which favour the developed countries and have tilted the rules against many developing countries”, the statement said.
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