WTO Reforms: Goyal Advocates Inclusive, Member-Driven Approach

India Advocates Transparent WTO Reforms at MC14​

Yaounde, Cameroon – Union Commerce and Industry Minister Piyush Goyal has emphasized the importance of transparent, inclusive, and member-driven reforms within the World Trade Organization (WTO) during the ongoing 14th Ministerial Conference (MC14) in Yaounde, Cameroon. The official statement released on Friday outlined the minister’s key priorities.

WTO Reform Focus​

Goyal stated that reforms must prioritize development and uphold core principles such as non-discrimination, consensus-based decision-making, and equity. Discussions at the conference centered on foundational issues of the WTO framework.

Bilateral and Multilateral Engagement​

During the conference, Minister Goyal met with Cameroon Prime Minister Joseph Dion Ngute and engaged in bilateral trade discussions with counterparts from the Netherlands, France, and Ethiopia. Commerce Secretary Rajesh Agrawal participated in bilateral meetings with representatives from Chile, Paraguay, the United States, Nepal, the Philippines, Saudi Arabia, Mexico, Peru, Russia, and New Zealand. A delegation of European Union parliamentarians also met with Mr. Agrawal.

FTA Negotiations and Dispute Settlement​

Discussions with Chile and Peru covered ongoing free trade agreement (FTA) negotiations. Talks with the European Union and New Zealand reviewed progress in respective FTA discussions. India reiterated that non-discrimination remains a foundational principle of the WTO framework, referencing the Marrakesh Agreement. The nation also emphasized the need for a development-centric agenda, specifically including a permanent solution on public stockholding (PSH) for food security, effective Special and Differential Treatment (S&DT) provisions for developing and least developed countries (LDCs), and the restoration of a fully functional dispute settlement mechanism.

MC14 Proceedings​

The 14th Ministerial Conference (MC14) commenced on March 26 in Yaounde. The opening session, chaired by Cameroon’s Trade Minister, was attended by WTO Director-General Ngozi Okonjo-Iweala and trade ministers and senior representatives from member countries. A brief event marked the entry into force of the Agreement on Fisheries Subsidies following the opening session. The conference is scheduled to conclude on March 29.