In the latest episode of the businessline‘s State of the Economy podcast, experts delve into the pressing issues facing India at the upcoming 13th Ministerial Conference (MC13) of the World Trade Organization (WTO) scheduled in Abu Dhabi, UAE. The podcast features Abhijit Das, Expert on international trade and former head, Centre for WTO Studies, providing valuable insights into the critical economic priorities India should focus on during this significant global event.
The episode highlights the importance of MC13 as the top decision-making body of the WTO, where trade ministers from around the world convene to address key issues and reach consensus on global trade matters.
Professor Abhijit Das emphasizes five key priorities that India should pursue at MC13:
Reviving the Appellate Body: Given the non-functionality of the WTO’s appellate body, the podcast discusses the urgency for India to prioritize its revival to ensure a rules-based system in international trade.
Permanent Solution to Public Stockholding: The episode underscores the need for a lasting resolution to the public stockholding issue for food security, which has lingered for over a decade, adversely affecting developing countries, including India.
Fisheries Subsidies: Professor Abhijit Das sheds light on the challenges and opportunities related to fisheries subsidies, urging India to advocate for strong disciplines on industrial fishing subsidies while safeguarding the interests of developing nations.
Moratorium on Customs Duties: The podcast delves into the impact of the moratorium on customs duties on electronic transmissions, emphasizing the need for lifting restrictions that disproportionately affect developing countries’ revenue and policy space.
WTO Reform and Policy Space: The discussion concludes with a focus on WTO reform, urging India to actively participate in shaping the discourse to ensure the retention and creation of policy space for developing countries, especially concerning catch-up industrialization policies.
In the unfolding discourse at MC13, insights emerge on India’s intricate challenges and strategic opportunities, providing a nuanced perspective on international trade negotiations. Expert analysis becomes a vital resource for policymakers, businesses, and those eager to grasp the evolving dynamics of global trade governance and its impact on India’s economic landscape.
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