WTO Ministerial Ends Without Resolutions

• 02 Mar 2024

Recently, WTO's Ministerial Conference concluded with no agreement on food security and fisheries subsidies.

Key Points

• Food Security Challenges: WTO fails to resolve issues related to public food stockpiles and overfishing subsidies despite extended talks.
• India's Stance: Led by Union Commerce Minister, India insists on permanent solutions for food security, crucial for global livelihoods.
• Global Divisions: Disagreements persist among nations over public stockholding, export restrictions, and agricultural subsidies.
• India's Demands: India seeks amendments in subsidy cap formula and updated reference prices for public stockholding.
• Additional Impacts: Positive outcomes include new service regulations and continued benefits for least developed countries.