Ending Moratorium on Customs Duties on Agri Issues, E-commerce Trade to Be Discussed at WTO’s Meet

A forthcoming mini-ministerial meeting of the World Trade Organization (WTO) is set to address various significant issues, according to an official. The meeting, scheduled to take place on June 7 in Paris, will likely involve trade ministers from several countries, including India, Australia, and the United States. It will be held alongside the Organisation for Economic Cooperation and Development (OECD) meeting.

The primary purpose of this gathering is to discuss crucial matters before the 13th ministerial conference (MC) of the WTO, slated for February 2024 in the United Arab Emirates. As the highest decision-making body of the WTO, the MC plays a crucial role in shaping global trade policies.

The official highlighted some of the key issues that may be brought up during the mini-ministerial meeting. These include concerns related to the agriculture sector, the moratorium on customs duties for e-commerce trade, and the patent waiver for COVID-19 therapeutics and equipment.

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The previous 12th MC, held in Geneva in June of the previous year, resulted in the "Geneva Package," which encompassed agreements on curtailing harmful fishing subsidies and temporary patent waivers to facilitate the production of COVID-19 vaccines.

India, among other developing countries, firmly opposes the continuation of the moratorium on customs duties for e-commerce trade. This stance is driven by the significant impact such a policy has on the economies of these nations.

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Since 1998, WTO members have agreed not to impose customs duties on electronic transmissions, and this moratorium has been regularly extended during successive WTO ministerial conferences. India also aims to address the issue of public stockholding for food security and seeks to find a permanent solution during the ministerial-level meeting in Abu Dhabi in February 2024.

It is worth noting that the WTO consists of 164 member countries and is responsible for establishing global trade rules and resolving disputes between nations. The decision-making process within the WTO requires consensus among members, allowing a single country to veto a decision

Source-PTI

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