24×7 Live News

US Top news

22 countries have applied for WTO membership, will support India as leader of Global South: Piyush Goyal india business news

Abu Dhabi: Union Minister of Commerce and Industry Piyush Goyal Said on Thursday that 22 more countries Has applied for membership of the World Trade Organization (WTO), which India will support as a leader global south,
“Twenty-two more countries have applied World Trade Organization membershipIndia will consider their demands sympathetically and support it as a leader of the Global South,” Goyal said while responding to ANI’s question.
His comments came at a press conference during the 13th WTO Ministerial Conference.
Comoros and Timor-Leste formally joined the WTO at a ceremony in Abu Dhabi on 26 February.
On the inclusion of both the countries in WTO, Goyal said, “PM Modi urged that both the countries – Timor Leste and Comoros should get a place in WTO. We are happy that both the countries have been included in WTO.”
On India’s position in WTO, the Union Minister said, “Our issues are on the table and we raise issues based on the interest of the country and the world. India speaks with the concept of Vasudev Kutumbkam. At G20, PM Modi spoke with One Led the world.” Earth, a future and a family. India still believes in this philosophy. India is always concerned about the issues of poor, less developed, developing countries.”
Goyal also pointed out that India “stands on strong principles of fair play and justice and wants to ensure that all decisions taken at the WTO are in keeping with the best interests of India’s farmers and fishermen and ensure that That our work improves while meeting the SDGs.” Through various decisions at WTO, strong and rapid growth has been promoted in the ‘Elixir period’ along with reduction of poverty, good quality of life and ease of living for Indians.
“We believe that the first issue that the WTO must address is building confidence: that what the WTO says will be implemented, that whatever decisions are taken are implemented in letter and spirit, and that WTO rules, if any They can be taken to task through the dispute resolution mechanism. India has first and foremost sought to reinstate the Appellate Body so that complaints about WTO resolutions not being met can be taken up. Can be raised before the Appellate Body to ensure implementation of the decisions.
The 13th Ministerial Conference (MC13) of WTO was held in Abu Dhabi, United Arab Emirates from 26 to 29 February. Ministers from around the world attended to review the functioning of the multilateral trading system and to take action on the future work of the WTO.
The WTO’s highest decision-making body is the Ministerial Conference, which usually meets every two years. It brings together all the members of the WTO, all of which are countries or customs unions. The Ministerial Conference can decide on all matters under any multilateral trade agreement.

Source link


Your email address will not be published. Required fields are marked *