Trade Secretary: Solutions to Long-Pending WTO Mandate Issues Needed

While attending the 14th BRICS trade ministers’ meeting, Commerce Secretary Sunil Barthwal stressed on the need to strengthen the multilateral trading system with the WTO, the Ministry of Commerce and Industry said in an official statement on Sunday.The Commerce Secretary stressed the need to find a solution to long-outstanding WTO mandate issues.

Barthwal stressed the urgent need to address issues such as a permanent solution to the public shareholding issue, the creation of a two-tier dispute settlement system, and reform of the WTO based on the principles and objectives of that world trade organization.

Public Stock Holding is a policy tool through which governments purchase, store and distribute grains to ensure food security for their citizens.

The Commerce Secretary also expressed the need to strengthen the effective functioning of shared value chains, expand interaction among SMEs, highlight India’s success in digitalisation and e-commerce and underscore the importance of cooperation among special economic zones.

Participated in the 14th BRICS Trade Ministers Meeting held on July 26, 2024 under the chairmanship of BRICS of the Russian Federation. He emphasized the importance of strengthening supply chain resilience through decentralization and diversification, deepening cooperation in value chains through the G20 general mapping framework for global value chains, and formulating guidelines for cooperation. In this context, he emphasized the importance of paperless trade, including the digitalization of documents such as waybills, as a preliminary step towards digitalization.

The Commerce Secretary also advocated for collaboration to ensure access to affordable, emerging technologies that will be critical to the green transition and climate resilience.

With respect to unilateral climate-related measures affecting trade, the Secretary of Commerce expressed concern, noting that such measures nullify rights and obligations under specialized multilateral environmental agreements, violate NDC principles, and ignore CBDR principles.

During the meeting, he stressed the urgent need to accelerate inclusive digital transformation.

Referring to India’s success in creating open-source public infrastructure as part of the country’s digital industrialisation, the Commerce Secretary expressed India’s willingness to share its experience with BRICS countries in e-revolution in the areas of payments, e-commerce, national identity, banking, education etc.

Barthwal, reiterating the Jaipur Call to Action to Enhance Access to Information for SMEs issued during the Indian Presidency in 2023, commended the Russian Presidency for taking forward the initiative by making efforts to compile basic information on SMEs among BRICS members.