Latest news with #MC14
Time of India
5 days ago
- Business
- Time of India
WTO must protect African interests: CUTS International dialogue
The WTO is a critical multilateral rules-based forum to promote and protect the trade interests of all countries, especially the African low-income countries, in the world, and it must be revitalised at all costs, said Pradeep S. Mehta, Secretary General of CUTS International . CUTS convened a high-level informal dialogue with African Ambassadors to the World Trade Organization (WTO) at the Palais des Nations, Geneva on 9th July. Mehta, an NGO Adviser to the DG, WTO, chaired the meeting. Explore courses from Top Institutes in Select a Course Category Degree Leadership MBA Finance MCA Data Analytics Technology Public Policy Healthcare Product Management PGDM Data Science Project Management Data Science Design Thinking others Others healthcare CXO Artificial Intelligence Cybersecurity Digital Marketing Management Skills you'll gain: Data-Driven Decision-Making Strategic Leadership and Transformation Global Business Acumen Comprehensive Business Expertise Duration: 2 Years University of Western Australia UWA Global MBA Starts on Jun 28, 2024 Get Details The closed-door session focused on reforms to the multilateral trading system, the operationalization of the African Continental Free Trade Area ( AfCFTA ), Africa's strategic role within the G20, and preparations for the 14th WTO Ministerial Conference (MC14) to be hosted in Cameroon in March, 2026. The deliberations captured the continent's resolve to navigate a complex geopolitical environment and assert its developmental priorities on the world stage. Multilateral Trading System in a Fractured World A recurrent theme was the increasing fragility of the multilateral trading order. Participants expressed deep concern over the rising trend of economic unilateralism, particularly the imposition of arbitrary tariffs by dominant global actors. This threatens to further fragment global trade by pushing countries—especially vulnerable African states—into precarious bilateral deals that are often skewed against their interests. The erosion of predictability and stability in the WTO system, largely due to the disengagement of some major economies, was viewed as a direct threat to investment flows and long-term development planning. Participants were unequivocal in their call for a revitalized, rules-based multilateral system—one that does not hinge on the whims of any single power. Yet, there was caution against retaliation. The disengagement of any single country should not dictate the future of the trading system. Instead, African countries were urged to champion reforms that democratize decision-making and prioritize inclusivity and development. AfCFTA: From Aspiration to Implementation The African Continental Free Trade Area (AfCFTA) featured prominently throughout the session. Several interventions emphasized that the agreement must move beyond high-level policy to tangible, ground-level impact—particularly for small businesses, women, and youth. There was strong consensus that the private sector must be placed at the heart of AfCFTA's implementation strategy. Ongoing initiatives, including national training workshops, online capacity-building platforms, and the establishment of a private sector facilitation framework, were cited as promising steps. The critical challenge now is ensuring that these tools translate into real trade opportunities. The connectivity deficits—both digital and physical—were seen as major bottlenecks that require urgent investment and regulatory coordination. Moreover, participants highlighted that AfCFTA must cohere with regional economic community frameworks to avoid duplication and disintegration. Investment Facilitation and Economic Sovereignty There was unanimous agreement that Africa's development hinges on attracting sustainable and strategic investment. The WTO's Investment Facilitation for Development (IFD) Agreement was viewed by many as a pragmatic entry point—though concerns about legal integration and sovereign space were noted. It was emphasized that investment and services policies must be approached as two sides of the same coin. With two-thirds of global FDI flowing into services, African governments were encouraged to align regulatory environments accordingly, especially in sectors like telecommunications, logistics, and agri-processing. The call to attract investment reflected an urgent development imperative amid declining aid and mounting public finance constraints. A Critical Opportunity for Africa The upcoming MC14, to be hosted in Cameroon, was framed as a historic moment for the continent. With agriculture, food security, and WTO reform on the agenda, African countries must arrive at the conference with a unified, actionable agenda. Particular emphasis was placed on securing outcomes on public stockholding, special safeguard mechanisms, and industrial policy flexibility. Participants urged that MC14 must not only acknowledge Africa's unique developmental needs but also advance them through concrete institutional reforms—especially around the Dispute Settlement Mechanism and Special & Differential Treatment. Leveraging the G20: From Presence to Influence While the African Union's recent admission to the G20 was applauded, it was made clear that mere presence does not guarantee influence. Effective participation requires preparation, coordination, and an unwavering commitment to championing the continent's priorities—particularly in digital trade, infrastructure, and MSME development. Some voices were sceptical of the G20's utility, citing its historical disconnect from WTO deliberations. Others, however, emphasized the opportunity for Africa to engage proactively—especially with the AU now at the table. The upcoming G20 summits hosted by South Africa and potentially the US were viewed as tests of whether Africa can shape the global trade narrative rather than merely respond to it. The meeting closed with a stark yet empowering message: Africa must stop waiting for others to define the system. The continent's strength lies in forging coalitions, acting decisively, and learning by doing. The rules-based system must be preserved—not in spite of the challenges, but because of them. Indeed, the most thought-provoking insight may have been the call to stop treating the United States' disinterest as a veto on multilateral progress. The session was attended, among others, by Jeremiah Mangewa (South Africa), Amb. Brian Glover (Mauritius), Hamid Mamdouh (Senior Counsel), Rajesh Aggarwal (Visiting Professor, ICRIER), Amb. Urujeni Bakuramutsa (Rwanda), Lily Sommers (ITC), Ms. Mpho Michelle Mogobe (Botswana), M. Thomas Ndongo (Cameroon), Mr. Pradeep S. Mehta (Secretary General, CUTS International), Suddha Chakravartti (Director, CUTS International Geneva), Peter Maundu (Research Associate of CUTS), and Mritunjai Kapila (Ontern).
India Gazette
04-06-2025
- Business
- India Gazette
Union Minister Piyush Goyal discusses multilateral trade concerns with WTO trade ministers
ANI 04 Jun 2025, 12:10 GMT+10 Paris [France], June 4 (ANI): Union Minister for Commerce and Industry Piyush Goyal on Wednesday participated in the WTO Trade Ministers gathering in Paris, France, at the Organisation for Economic Co-operation and Development (OECD) Ministerial Council minister discussed concerns regarding the WTO (World Trade Organisation) and multilateral trade.'Participated in the WTO Trade Ministers gathering on the margins of the OECD Ministerial Council Meeting in a very good discussion on several issues concerning WTO and multilateral trade,' Union Minister tweeted on social media 'X'.On Tuesday, speaking to ANI, Ngozi Okonjo-Iweala, Director General of the World Trade Organisation, said, 'We need India as a leader 'in the 14th WTO Ministerial Conference (MC14), which will take place in Yaounde, Cameroon, from March 26 to 29, 2026.'India is a leading country, and India is doing well. So India needs to open the way for other developing countries. For example, on investment facilitation for development. We want India to support because so many developing countries, 90 out of the 126 who are members, would like to move with this. But for agriculture, we also need to listen to what India's issues are and try to be as supportive as we possibly can,' the WTO DG addedThe WTO DG also raised issues of repositioning and possible reforms to the trade body. 'Goods trade is still taking place on WTO terms, MFN terms, and members want to safeguard that, but there are things that also don't work. And when you have this kind of disruption, you ask yourself, what is it that needs to be reformed about the WTO?' said DG WTOShe added, 'What is it that developing countries like India don't like? Let them put that on the table. What is it that the US doesn't like? Put that on the table. What do Africans not like about the way the organisation? Put that on the table. Let's collect these and then let's try to reform it because most members think that it is a very valuable organisation, but it should be repositioned'. Additionally, the minister also met Brazil's Foreign Minister, Mauro Vieira. Both ministers discussed the trade between the two countries and explored options to deepen the economic partnership. (ANI)
Times of Oman
04-06-2025
- Business
- Times of Oman
We need India as a leader; it needs to open the way for developing countries": WTO Director-General
Paris: Ngozi Okonjo-Iweala, Director General of the World Trade Organisation, said "we need India as a leader "in the 14th WTO Ministerial Conference (MC14), which will take place in Yaounde, Cameroon, from March 26 to 29, 2026. "For MC-14, you know, we need India as a leader. India is a leading country, and India is doing well. So India needs to open the way for other developing countries," the WTO DG told reporters in Paris. Highlighting India's leadership role, she said WTO reform must include support for issues important to India, such as agriculture. She also pushed for India's backing on the Investment Facilitation for Development agreement, which is supported by 90 of the 126 participating members. "India is a leading country, and India is doing well. So India needs to open the way for other developing countries. For example, on investment facilitation for development. We want India to support because so many developing countries, 90 out of the 126 who are members, would like to move with this. But for agriculture, we also need to listen to what India's issues are and try to be as supportive as we possibly can," she added. Ahead of the mini-ministerial meeting hosted by Australia in Paris, WTO DG noted that the mini-ministerial meeting is crucial for setting the tone ahead of WTO ministerial Confrence. "Most members believe the WTO is a valuable organisation, but it must be repositioned," she said. WTO DG expressed the need for the repositioning of the multinational trading body, adding that the current disruptions to the multilateral trading system present an opportunity to drive much-needed reforms. "Multilateral trading systems have been disrupted in a way they haven't been before. But guess what? Sometimes I see challenges as opportunities, and I think this is a very good opportunity for the WTO members to look at what those things are that work and should be kept, and there are many," the WTO DG said. "For example, 3/4 of world goods trade is still taking place on WTO terms, MFN terms, and members want to safeguard that, but there are things that also don't work. And when you have this kind of disruption, you ask yourself, what is it that needs to be reformed about the WTO? What is it that developing countries like India don't like? Let them put that on the table. What is it that the US doesn't like? Put that on the table. What do Africans not like about the way the organisation is? Put that on the table. Let's collect these and then let's try to reform it because most members think that it is a very valuable organisation, but it should be repositioned," WTO DG added. The discussions gain urgency ahead of the 14th WTO Ministerial Conference scheduled for March 26-29, 2026, in Cameroon. The meeting will likely serve as a crucial test for the organisation's ability to bridge growing divisions between developed and developing nations while maintaining its multilateral foundation. The WTO chief's visit to Paris coincides with a mini-ministerial meeting on the margins of the OECD Ministerial Council Meeting, convened by Australia. Trade ministers from approximately 25 countries, including India, Australia, and Singapore, are participating in discussions about potential WTO reforms.
Time of India
03-06-2025
- Business
- Time of India
India should open way for developing nations: WTO
PARIS: While acknowledging unprecedented disruption of multilateral trading system, WTO chief Ngozi Okonjo-Iweala on Tuesday raised the issue of China-backed investment facilitation. While India is opposing this, Okonjo-Iweala wants New Delhi to support the move. "We spoke about issues of reform, about issues that India is interested in, like agriculture and how India needs to be a leader for MC 14 (next year's ministerial meeting)... India needs to open the way for other developing countries, for example, on investment facilitation for development, we want it to support, because so many developing countries, 90 out of the 126, who are members, would like to move with this. But for agriculture, we also need to listen to what India's issues are and try to be as supportive as possible," she said after a meeting with commerce & industry minister Piyush Goyal. India had virtually single-handedly blocked attempts to include investment facilitation as a plurilateral matter under the WTO framework. The comments came ahead of the mini-ministerial meeting of trade ministers later Tuesday. WTO chief said the issue of reform is expected to come up for discussion, at a time when multilateral trading system has been "disrupted in a way it hasn't been before". by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Buy Durable Perforated Stainless Steel Sheets Online – Trusted Suppliers Stainless Steel Sheets | Search ADS Search Now Undo "Sometimes I see challenges as opportunities, and I think this is a very good opportunity for WTO members to look at what are those things that work and should be kept and there are many. For example, three quarters of world goods trade is still taking place on WTO terms, on MFN terms and members want to safeguard that," she said. She said that each member will put their ideas on the table, paving the way for discussions at the next year's ministerial meeting. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
India Gazette
03-06-2025
- Business
- India Gazette
We need India as a leader; it needs to open the way for developing countries
By Shailesh Yadav Paris [France], June 3 (ANI): Ngozi Okonjo-Iweala, Director General of the World Trade Organisation, said 'we need India as a leader 'in the 14th WTO Ministerial Conference (MC14), which will take place in Yaounde, Cameroon, from March 26 to 29, 2026. 'For MC-14, you know, we need India as a leader. India is a leading country, and India is doing well. So India needs to open the way for other developing countries,' the WTO DG told reporters in Paris. Highlighting India's leadership role, she said WTO reform must include support for issues important to India, such as agriculture. She also pushed for India's backing on the Investment Facilitation for Development agreement, which is supported by 90 of the 126 participating members. 'India is a leading country, and India is doing well. So India needs to open the way for other developing countries. For example, on investment facilitation for development. We want India to support because so many developing countries, 90 out of the 126 who are members, would like to move with this. But for agriculture, we also need to listen to what India's issues are and try to be as supportive as we possibly can,' she added. Ahead of the mini-ministerial meeting hosted by Australia in Paris, WTO DG noted that the mini-ministerial meeting is crucial for setting the tone ahead of WTO ministerial Confrence. 'Most members believe the WTO is a valuable organisation, but it must be repositioned,' she said. WTO DG expressed the need for the repositioning of the multinational trading body, adding that the current disruptions to the multilateral trading system present an opportunity to drive much-needed reforms. 'Multilateral trading systems have been disrupted in a way they haven't been before. But guess what? Sometimes I see challenges as opportunities, and I think this is a very good opportunity for the WTO members to look at what those things are that work and should be kept, and there are many,' the WTO DG said. 'For example, 3/4 of world goods trade is still taking place on WTO terms, MFN terms, and members want to safeguard that, but there are things that also don't work. And when you have this kind of disruption, you ask yourself, what is it that needs to be reformed about the WTO? What is it that developing countries like India don't like? Let them put that on the table. What is it that the US doesn't like? Put that on the table. What do Africans not like about the way the organisation is? Put that on the table. Let's collect these and then let's try to reform it because most members think that it is a very valuable organisation, but it should be repositioned,' WTO DG added. The discussions gain urgency ahead of the 14th WTO Ministerial Conference scheduled for March 26-29, 2026, in Cameroon. The meeting will likely serve as a crucial test for the organisation's ability to bridge growing divisions between developed and developing nations while maintaining its multilateral foundation. The WTO chief's visit to Paris coincides with a mini-ministerial meeting on the margins of the OECD Ministerial Council Meeting, convened by Australia. Trade ministers from approximately 25 countries, including India, Australia, and Singapore, are participating in discussions about potential WTO reforms. (ANI)
