Piyush Goyal on Friday called for advancing reforms in the World Trade Organization through a transparent, inclusive, and member-driven process, with development at its core.
Speaking at the 14th Ministerial Conference (MC14) in Yaoundé, he stressed the need to uphold key principles such as non-discrimination, consensus-based decision-making, and equality within the global trade framework.
Bilateral Talks with Cameroon PM and WTO Chief
During the conference, Piyush Goyal met Joseph Dion Ngute to discuss ways to strengthen India-Cameroon cooperation, along with broader bilateral and multilateral issues.
He also held discussions with Ngozi Okonjo-Iweala on the MC14 agenda and key global trade priorities.
Additionally, Goyal met his counterparts from the Netherlands, France, and Ethiopia to review bilateral trade relations.
Commerce Secretary Holds Multiple Global Meetings
Rajesh Agrawal conducted extensive bilateral meetings with representatives from Chile, Paraguay, the United States, Nepal, the Philippines, Saudi Arabia, Mexico, Peru, Russia, and New Zealand, along with a delegation of Members of the European Parliament.
These discussions focused on strengthening trade ties and exploring new economic opportunities.
Focus on FTAs and Strengthening Trade Partnerships
Talks during the conference also covered progress on Free Trade Agreements (FTAs) with countries such as Chile and Peru.
Negotiations with the European Union and New Zealand were reviewed, with both sides assessing progress and exploring ways to enhance trade cooperation.
India reiterated that non-discrimination remains a fundamental principle of the WTO framework, as reflected in the Marrakesh Agreement.
India Emphasises Development-Centric Agenda
India strongly highlighted the importance of a development-focused global trade agenda, including:
- A permanent solution for Public Stockholding (PSH) for food security
- Effective Special and Differential Treatment (S&DT) provisions for developing and least developed countries
- Restoration of a fully functional dispute settlement mechanism
WTO MC14 Session Underway in Cameroon
The WTO MC14 session began on March 26 in Yaoundé under the chairmanship of Cameroon’s Trade Minister and will conclude on March 29.
The opening session was attended by Ngozi Okonjo-Iweala, trade ministers, and senior representatives from member countries.
A brief event was also held to mark the implementation of the Fisheries Subsidies Agreement, highlighting progress in global trade negotiations.
