Union Commerce and Industry Minister Piyush Goyal today briefed the media on the outcomes of the 14th Ministerial Conference of the World Trade Organization (WTO) held in Yaoundé, Cameroon, between the 26th and 29th of the previous month.

 

Addressing the media in New Delhi, Mr Goyal said that the four-day conference witnessed intensive deliberations on key global trade issues, including WTO reforms, fisheries subsidies, investment facilitation for development, e-commerce, agriculture, and other developmental concerns. He informed that three key decisions were announced during the conference, including measures aimed at strengthening the integration of small economies into the multilateral trading system, with a focus on improving trade logistics, connectivity, and border processes to enhance their participation in global trade.

 

On broader trade principles, Mr Goyal highlighted that India strongly reiterated the importance of the Most Favoured Nation and Special and Differential Treatment principles. He also noted that India advocated bridging the digital divide in the e-commerce domain by strengthening digital infrastructure and skill development in least-developed and developing countries. On agriculture, the Minister said India has reiterated the need for a permanent solution on public stockholding for food security purposes and a Special Safeguard Mechanism to protect farmers’ interests.

 

Referring to fisheries subsidies, the Minister said that discussions focused on addressing overcapacity and overfishing, with consensus among member countries on promoting sustainable practices. He emphasized that India has consistently followed sustainable fishing methods and remains committed to supporting small and artisanal fishermen. He added that the government is monitoring fishing capacities to curb overexploitation and is seeking an adequate transition period to further develop its fisheries sector.