February 29, 2024
2 mins read

India Tells WTO to Act on Past Decisions

India stated that the multilateral trading system stands at a crossroads today….reports Asian Lite News

India insisted that new issues should not be considered for ministerial mandates unless past decisions and unfulfilled mandates were acted upon.

India, during the discussions on Wednesday, stressed that the draft Abu Dhabi ministerial declaration that issues relevant to developing countries should find focus and prominence.

In the working session on development, India highlighted that historically, on the issue of development, there has been no dearth of promises made by developed countries, with each ministerial churning out lofty ideas.

“There have been many promises, but very little action, on account of which the vulnerabilities of the developing countries including the LDCs have only amplified further,” as per the official statement.

India stated that the multilateral trading system stands at a crossroads today. While the world is battling multiple crises such as debt and balance of payment, the WTO itself is confronting serious challenges both from within and outside.

“As a consequence, the developing countries, including the LDCs, are not only expending their limited resources fighting these global challenges but also defending their interests in this multilateral forum,” as per an official statement.

India emphatically stated that development is the goal and in fact, the very reason, why the developing countries, including LDCs, have joined this institution in the first place.

“Thus, it was imperative that the WTO prioritize, deliberate, and deliver solutions to the several challenges faced by developing countries, including LDCs. India recalled that the principles of special and differential treatment, which were facing attack from the developed members, were no exceptions to the general WTO rules, and in fact they were the inherent objectives of the Multilateral Trading System,” the statement mentions.

India asserted that in their journey of industrialisation, the developed countries have used and benefitted from all policy tools available and are still utilising them for their new industries, where many industrial policy measures are being taken. The irony was that now, these very same members were kicking the ladder away.

India said that developing countries urgently needed flexibilities in existing rules. Infant and young industries in developing countries needed support through conducive policies, incentives, subsidies and level playing field. (ANI)

ALSO READ: China Agrees to Rollover $2 Bn Debt for Pakistan

Previous Story

‘WPL Key for India Women’s Cricket Talent Hunt’

Next Story

India, US Hold Talks to Discuss Terrorism, Money Laundering

Latest from -Top News

IMF Defends Pakistan Bailout

India had asked it to reconsider the bailout as Pakistan allows terrorists to use its soil for launching state-sponsored attacks against Indian citizens….reports Asian Lite News Amid India’s objections to the International

India Rejects Trump Mediation

He reaffirmed India’s openness to dialogue, but underscored that any talks must be grounded in seriousness and a clear commitment to ending cross-border terrorism In a firm rebuttal to former U.S. President

India Reaffirms Anti-Terror Stand

The delegation later called on former Japanese Prime Minister Yoshihide Suga, now Vice President of the ruling Liberal Democratic Party and Chairman of the Japan-India Association. Suga reiterated Japan’s firm backing for

UAE welcomes India’s all-party delegation

The United Arab Emirates is the first stop on this strategic tour, with the delegation engaging UAE leadership, parliamentarians, and media in a series of high-level meetings. In a significant diplomatic outreach,

Operation Sindoor: Indian MPs in Tokyo

Their visit marks the beginning of India’s unprecedented diplomatic campaign to expose Pakistan’s sustained role in cross-border terrorism…reports Asian Lite News An all-party parliamentary team led by JD(U) MP Sanjay Jha met
Go toTop

Don't Miss

USIBC, Karnataka Govt Ink Tech-Innovation Pact

The agreement was signed during the India-USA Tech Conclave currently

India, Malaysia hold talks ahead of Joint Commission Meeting

The official itinerary for the visit includes a sit-down with