WTO meet: India to raise issues on agri, fisheries, investment facilitation on June 3

New Delhi: India will flag its concerns on issues pertaining to agriculture, fisheries agreement, China-led proposal on investment facilitation and dysfunctional appellate body of the WTO during an informal meeting of about 25 trade ministers in Paris on June 3, an official said.

The mini-ministerial meeting will be held on the margins of the OECD (Organisation for Economic Co-operation and Development) Ministerial Council Meeting in Paris.

Commerce and Industry Minister Piyush Goyal will participate in this meeting. He is on a five-day visit to France and Italy from June 1.

The official said that India will raise its concerns on all key issues of the WTO including agriculture (finding permanent solution to the public stock holding); fisheries agreement, investment facilitation proposal, reforms in the WTO and dysfunctional appellate body of the Geneva-based forum.

India is against the move led by countries such as China to push a proposal on investment facilitation at the WTO. A China-led group of 128 countries is pushing for the Investment Facilitation for Development (IFD) proposal.

Since 2009, WTO’s dispute settlement mechanism is not functioning properly as the US has stalled appointments of members in the appellate body.

Meanwhile, a commerce ministry statement said that during his stay in Paris, Goyal will participate in the informal gathering of trade ministers from countries including the US, Singapore, Saudi Arabia, South Korea, Nigeria, Brazil, and Israel.

“At this crucial forum, he will engage with global counterparts on key multilateral trade issues and articulate the perspectives and priorities of India,” the ministry said.

Goyal is also scheduled to hold bilateral meetings with French ministers, including Eric Lombard, Minister of Economy, and Laurent Saint-Martin, French Trade Minister.

The discussions will focus on strengthening the Indo-French economic partnership and exploring new avenues for enhancing trade and investment cooperation. He will also meet top leadership of major French companies such as Vicat, Total Energies, L’Oreal, Renault, Valeo, EDF and ATR, besides attending the India-France Business Round Table and the India-France CEO Forum.

As part of the visit, the minister will hold a series of high-level bilateral meetings with key international partners. These include the UK’s Secretary of State for Business and Trade, Jonathan Reynolds; Singapore’s Deputy Prime Minister and Minister for Trade and Industry Gan Kim Yong; and Saudi Arabia’s Minister of Commerce, Majid bin Abdullah Al-Kasabi.

Goyal will also engage with Israel’s Minister for Trade and Investment Nir Barkat; Nigeria’s Minister for Trade, Industry and Investment Jumoke Oduwole OON; Commissioner for Trade and Economic Security Marcos Sefcovic; and Brazil’s Foreign Minister Mauro Luis Iecker Vieira. “These dialogues are aimed at advancing strategic economic cooperation and fostering mutually beneficial partnerships across regions. They will also provide significant impetus to India-EU FTA negotiations,” it said.