The 14th ministerial conference of the WTO is scheduled to held from March 16-29 in Cameroon. Commerce and industry minister Piyush Goyal will lead the Indian delegation.
On the IFD, which seeks to create a pre-investment appeal system to screen all investments through an independent body, the official flagged fundamental issues such as whether investment falls within the WTO’s mandate.
New Delhi has been saying that discussion on any aspect concerning trade and investment remains out of bounds within the WTO framework as it is not a trade agreement, and the organisation needs to ensure that plurilateral agreements remain an exception and do not become a norm.
India’s concerns assume significance as a group of more than 120 WTO members want to bring the proposal through Annex-4 of the organisation. Under this, the proposal would be binding on only the signatory members and not on those who are opposed to it.
“To get an agreement there needs to be explicit consensus… this agenda is on the table,” an official said.
Noting that the ministerial is being termed as a reform ministerial, the official said: “Reform not as an outcome but WTO members may deliberate on whether a credible pathway for reform should be formally taken up as part of the agenda for the next ministerial.”On the issue of customs duties moratorium on e-commerce, the official said detailed discussions are expected as developed countries want it to continue beyond March 31 while developing members like India don’t favour its extension as it is causing tariff revenue losses of an estimated $10 billion to the developing countries every year.
The moratorium can’t be extended in the absence of a consensus decision.
“The challenge is of defining ecommerce conclusively,” the official said.
Issues related ro agriculture remain crucial as the draft ministerial text on agriculture, circulated on March 16 during a special session of the WTO’s agriculture committee, makes a broad reference to past Ministerial decisions without spelling out a clear path forward on these issues but indicates a partial accommodation of the US push for a “new approach” to agriculture negotiations.
India’s key demands have been public stockholding and the Special Safeguard Mechanism.
On whether issues such as tariff measures by the US could come up, the official did not rule it out. “We won’t completely rule it out because when you talk of reforms then this issue can come up,” the official said.
India is expected to play a constructive role across all areas of deliberations as WTO needs to be strengthened and be more relevant and effective.