By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Magadh Today - Beyond HeadlinesMagadh Today - Beyond HeadlinesMagadh Today - Beyond Headlines
  • Home
  • India
  • Editorial
  • Opinion
  • Global
  • Technology
  • Science
  • Asia
  • Business
  • Finance
Reading: India says no new deal at WTO without key US concession
Share
Notification Show More
Aa
Magadh Today - Beyond HeadlinesMagadh Today - Beyond Headlines
Aa
  • India
  • Economy
  • Politics
  • Business
  • Technology
  • Finance
  • Editorial
  • Opinion
  • Science
  • Home
  • Technology
  • Business
  • Economy
  • Politics
  • Science
  • Sitemap
Have an existing account? Sign In
Follow US
  • Advertise
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
Magadh Today - Beyond Headlines > Latest News > Business > India says no new deal at WTO without key US concession
Business

India says no new deal at WTO without key US concession

Gulshan Kumar
Last updated: 2024/02/28 at 8:59 PM
By Gulshan Kumar 2 years ago
Share
SHARE

India will only finalise new deals at a World Trade Organisation (WTO) ministerial meeting if the United States stops blocking an agreement on a dispute settlement mechanism, New Delhi’s trade minister said on Wednesday.

Delegates are hoping for progress on issues such as fisheries and agriculture at the WTO’s 13th ministerial meeting, underway in Abu Dhabi.

But Indian minister Piyush Goyal told AFP on the sidelines of the talks his country would not “finalise” any new agreements without progress on the dispute-settlement system.

“It’s important that the first issue we should settle is that there should be an appellate body and some countries are not allowing that to happen,” he said.

Washington brought a WTO dispute settlement to a grinding halt in 2019 after blocking for years the appointment of new judges to the WTO’s appeals court.

Goyal said that “the entire working of WTO currently has come to a little bit of a standstill”.

New agreements require full consensus between the WTO’s 164 member states as per the body’s rules.

“I think it’s important that the issues which relate to the past and have been under consideration for many years should be addressed first and among them is the appellate body which is of prime importance,” Goyal said.

“Only after that, we can look at fresh other issues in the future,” Goyal added.

Washington had accused the appellate body of over-interpreting WTO rules and said that judges’ decisions should not go against the national security of countries.

It is now pushing for a dispute settlement reform that will create a “fair” system and not replicate the flaws of the previous body, US Trade Representative Katherine Tai said this week.

During the last WTO ministerial conference in 2022, member states committed to hold discussions on the dispute settlement system “with a view to having a fully operational system by 2024”.

But there has been little progress, causing frustration ahead of the possible reelection of Donald Trump as US president in November.

When asked if the issue should have been resolved before the Abu Dhabi conference, Goyal said: “It should have been fixed, because unless that is fixed, every other decision is only a paper decision” that cannot be implemented.

By AFP

You Might Also Like

Deutsche Bank reshuffles global investment banking leadership

Global tech outage eases after widespread disruption, new focus seen on risks

Byju’s Business Case Study: A Company That Went From Zero-To-Billion-To-Zero

Explainer: What caused Microsoft outage, Windows blue screens ?

Massive tech outage affects air traffic, communication worldwide

Share This Article
Facebook Twitter Whatsapp Whatsapp LinkedIn Reddit Telegram Copy Link Print
Previous Article World’s super-rich head to Gujarat for wedding party thrown by India’s richest person
Next Article Imran Khan calls on IMF to link grant of financial facility with ‘good governance’
about us

Your daily dose of news and updates on politics, culture, and events around the globe. Stay informed, stay connected!

Quick Links

  • Home
  • Sitemap
  • Contact
  • About
  • Privacy Policy
  • Terms and Conditions
Magadh Today - Beyond HeadlinesMagadh Today - Beyond Headlines
© Magadh Today Network. All Rights Reserved.
Go to mobile version
adbanner
AdBlock Detected
Our site is an advertising supported site. Please whitelist to support our site.
Okay, I'll Whitelist
Welcome Back!

Sign in to your account

Lost your password?