WTO reform necessary keeping development at its core,Piyush Goyal

Commerce and Industry Minister Piyush Goyal has said that World Trade Organisation, WTO reform should focus on development whose process should be precise, transparent and inclusive.  Goyal said this in Geneva at the ministerial meeting of G - 33 at the 12th WTO Ministerial Conference on Sunday. He said, India strongly believes that the WTO should not negotiate rules on non-trade-related subjects like climate change and gender, which legitimately fall within the domain of other inter-governmental organisations. Goyal said, India reiterates Prime Minister Narendra Modi's clarion call for sustainable living through Lifestyle For Environment (LiFE), a movement aimed at promoting environment-conscious lifestyle, focusing on mindful and deliberate utilization.

“Unfortunately, the WTO could not respond with alacrity. We have let down the people of the LDCs and developing countries. The rich countries need to introspect! We need to bow our heads in shame for our inability to respond to the pandemic in time,” he said in his address. Goyal drew attention of the multilateral forum to the humanitarian crisis triggered by spiralling food inflation and called it a “matter of deep concern”, while also underscoring the importance of nurturing domestic capacities to produce food. “Rising food prices threaten the survival of millions and subjugate the poor and vulnerable nations/people to imperfect markets,” he said. The Minister said, when the world is facing severe challenges and expects the WTO to deliver solutions, the 12th Ministerial Conference must send a strong message that the rich care for the poor, vulnerable and marginalized people. Goyal said, the WTO should embrace a people first approach to trade.