Questioning the relevance of WTO:
Silence on food stockholding:
Four years later, e-commerce:
It is quite clear that the inclusion of e-commerce and investment in the WTO would further drive the wedge between the rich and the poor nations. The growing disenchantment with the existing model of globalisation has provided a historic opportunity to frame new rules that give equal opportunities to all countries and their citizens in the global marketplace.
An important op-ed for developing an understanding of WTO and its functioning, and a probable question in Mains. Mains 2016 had a question on WTO issue.
Back2basics: The TFA is important for both prelims and mains.
Note the key terms like ISDS mechanism from prelims PoV and the issue as a whole for mains.
The issue such as this one and the solar or poultry disputes with US are important to be followed as they develop as there is an explicit topic in Mains GS-3 syllabus on this.
What is important here is TFS. Important for both- pre and mains.
For mains, remember the demands by India for various negotiations. For prelims, keep in mind terms like TFA in Services, Doha Development Agenda
Doha Development Agenda:
The Doha Development Agenda, more often referred to as the Doha round trade talks, is the latest cycle of negotiations under the umbrella of the WTO. There have been nine rounds of multilateral trade talks since the end of the second world war, but the Doha round is the first to focus on helping developing countries join the global marketplace, and boost their economies as a result. The round was launched in November 2001 – and it’s still not over.
These issues related to international trade, and involving the WTO are very important. Keep a note of such developments.
This news shows how international fora and environmental norms can be used to benefit developed nations at the cost of developing nations like India.
The terms ‘Agreement on Agriculture’, ‘Agreement on the Application of Sanitary and Phytosanitary Measures’ and Peace Clause’ appear in the news frequently in the context of the affairs of the: [Prelims 2015]
a) Food and Agriculture Organization
b) United Nations Framework Conference on Climate Change
c) World Trade Organization
d) United Nations Environment Programme
India will pitch for a trade facilitation agreement (TFA) in services at the WTO has huge potential and it contributes significantly to the country’s economy.
In Regional Comprehensive Economic Partnership (RCEP) talks, India will state that the focus should be on expeditiously concluding discussions on the goods, services and investment chapters of pact.
A “collaborative approach” with African countries would be central to India’s future strategy at the WTO.
Against bid to link deal on farm export subsidies to Special Safeguard Mechanism.
India has made it clear that protection of poor farmers’ interests and its food security programmes are not up for any bargain at the negotiations.
Opposes rich nations’ attempts to introduce ‘new’ issues.
The ‘new’ issues pertain to labour practices, environmental standards, global value chains, e-commerce, competition and investment provisions, transparency in government procurement.
India is likely to ratify the WTO’s Trade Facilitation Agreement(TFA), aimed at easing customs rules to expedite trade flows.
At Nairobi meet, New Delhi will resist efforts to create divisions among developing nations.
World Trade Organisation (WTO) revising its projections for growth in world trade downwards.
US has declared special and differential treatment (S&DT) a “threshold” issue, implying that all developing countries will not be treated on a par with regard to farm and fisheries subsidy programmes.
What this means is that Washington wants China and India to be treated separate from other developing countries—regardless of their hundreds of millions of poor farmers and fishermen—with regard to commitments on farm and fisheries subsidies in the Doha Development Agenda (DDA) trade negotiations.