India still has a stake in rules-based dispute resolution
With its eye on the December ministerial of the World Trade Organization (WTO), India is expected to push its proposal on trade facilitation agreement on services (TFS) at an upcoming WTO meet in October.The WTOs biennial ministerial meet, to be held in December in Argentina, will see nations discussing trade and investment issues.However, negotiations have heated up over the agenda of discussion in December as richer nations led by the United States and the European Union have supported the introduction of a proposed set of global rules for e-commerce. On the other hand, another motley group of nations led by China is paralelly pushing for a trade facilitation agreement on services. As a result, the WTO has broken conventional practices to call a mini ministerial in October to hammer out the exact agenda of the December meet, a senior Commerce and Industry ministry official said.At this earlier meet in Marrakesh, Morocco, the TFS will be pushed by India, he added. Based on the ...
Response from other countries could lead to a 'domino effect', he added
Held once every two years, the WTO Ministerial meet will be in Argentina
Alleged breaches of the trade rules affect trade in goods and services from Russia
On investment facilitation, e-commerce, India wants everybody on board, says Nirmala Sitharaman
Bilateral matters cannot be decided on multi-lateral forums, maintains India
With developed nations becoming louder on demands for talks on e-commerce, India may have a hard time ignoring the issue at the upcoming ministerial this year.Barely two months after World Trade Organization (WTO) head Roberto Azevedo visited India, warning that discussions on e-commerce would move forward no matter who participated, news pouring in from Geneva over the last few days show growing deliberations on e-commerce among nations. An international grouping has been formed in this regard, composed of Latin American nations Argentina, Chile, Colombia, Costa Rica, Uruguay as well as their partners in this issue, Kenya, Mexico, Nigeria, Pakistan and Sri Lanka.Named the 'Friends of E-Commerce for Development', the grouping has initiated panel-level talks on the issue with some nations also mooting the idea of making it part of the formal agenda for the upcoming ministerial conference in Argentina later this year in December. Participating in the talks, Azevedo had said e-commerce .
In his earlier stint in the Commerce Ministry, he was India's chief negotiator at the WTO
Azevedo, 59, was unopposed in the contest to lead the 164-member WTO
Trade facilitation deal marks global consensus, aimed at simpler and easier trade regime
New Delhi to push for services trade facilitation & food stockpiling
TFA will have a major impact on poorer countries, because it simplifies customs procedures
The amendment permanently changes WTO's Trade Related Aspects of Intellectual Property agreement
Nirmala Sitharaman said that Argentina and Brazil, too did not support the move
Merchandise trade in developed countries dropped to 52% in 2014 from 80% in 1995
The complaint will likely add to rising trade tensions between the world's two largest economies
India is pitching for the pact as services contribute 60% to of its GDP, employ 28% of its workforce
India is pushing for a trade agreement on services as members of the global trade body
India wants the WTO to do 'solid work' in the new year as global uncertainties loom