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S&DT, investment facilitation to be focus at Jun WTO meet

10
Mar '20
Pic: Shutterstock
Pic: Shutterstock
Special and differential treatment (S&DT) for developing countries like India and investment facilitation will reportedly figure prominently in the World Trade Organisation’s (WTO) 12th Ministerial Conference meet from June 8 to 11 in June in Kazakhstan’s Nur-Sultan. The Ministerial Conference is the highest decision-making body of the 164-member WTO.

The S&DT allows developing countries to enjoy certain benefits, including taking longer time periods for implementing agreements and binding commitments, and measures to increase trading opportunities for them.

Trade ministers of all the member countries participate in the deliberations.

As part of reforms, the United States wants the formulation of some guidelines that countries with high economic growth are prevented from taking benefits of special and differential treatment (S&DT), which is meant for developing and poor nations.

Currently, any WTO member can designate itself as a developing country and avail these benefits.

The United States had submitted its suggestions to the WTO that states that self-declaration puts the WTO on a path to failed negotiations and it is also a path to institutional irrelevance.

India is of the view that the matter needs to be negotiated comprehensively in the WTO and a consensus-based decision needs to be taken on S&DT, according to a news agency report.

Fibre2Fashion News Desk (DS)


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