Ahead of the WTO reforms, it is obligatory to consider the reality that developing countries still lag behind their counterparts in the developed world. Global trade is a means of contributing to certain goals: Suresh Prabhu.
AMN / NEW DELHI
India’s Commerce Minister Suresh Prabhu has said that World Trade Organisation, WTO should be an engine of growth for global trade and an instrument for national development of all its members.
Addressing WTO Ministerial meeting of Developing countries in New Delhi today, Mr Prabhu asserted that the nations must collectively preserve the special and differential treatment provisions in the WTO agreements to ensure a fair play for the developing nations.
“One of our shared goals is to make WTO a much better organization, forward-looking, vibrant, encompassing everyone’s interests, ensuring that development happens through trade as well. And to achieve that we must ensure that WTO would address the concerns of developing countries”, minister said
He said, it is heartening to receive meaningful suggestions from the WTO’s member nations and they should converge to reform the dispute settlement mechanism of the global trade body.
The Minister said, WTO Ministerial Meeting in New Delhi is for like-minded nations and not against any country or group of countries.