Union Commerce and Industry Minister Anand Sharma pitched for a ‘balanced package’ for the least developed and developing countries in the forthcoming WTO's talks at the ministerial level which is scheduled to be held in Bali, a province of Indonesia, in December. Sharma, who is in Geneva for a high level policy dialogue, has discussed the roadmap to Bali Ministerial meeting with key Ambassadors to WTO.
Sharma said, though India is not opposed to Trade Facilitation, there is a need for an internal balance in the Trade Facilitation proposal with adequate special and differential treatment for developing countries and small and vulnerable economies. He also argued for providing technical and financial support to such economies so that they benefit from trade facilitation. The Minister also supported a Least Developed Countries (LDC) package including duty free quota free market access, which countries like India and China have already implemented, must be part of the Bali package.
Arguing that emerging economies have to carry a disproportionate burden of poverty and huge income disparities, Sharma expressed the need for a special and preferential treatment. The minister mentioned that India strongly endorsed the G-33 proposal for food security and flexibility in their public stock holding operations for public distribution system. The interest of subsistence farmers in developing and poor countries have to be recognized and protected. About the emerging plurilateral arrangements in the WTO, he emphasized the need to uphold the centrality of multilateralism.
The 9th WTO Ministerial Conference will take place from December 3-6 in Bali. The Ministerial Conference is the highest decision-making body of the 158-member multi-lateral organization which meets at least every two years.
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