India plans to host WTO meeting in February 2018 | Current Affairs, Current Affairs 2017

India plans to host WTO meeting in February 2018

Posted by

Aiming to gather the support for global food security and to resolve the other important issues, India is scheduling to host the meeting of World Trade Organisation (WTO) member countries in February 2018.
The announcement was made by Commerce and Industry Minister Suresh Prabhu, while speaking at event organised by Apparel Export Promotion Council, AEPC in New Delhi….

He said, “This is (for the) first time that India is not being blamed. We are definitely not going back as villains”, Prabhu said, adding the country has not lost anything but gained a lot, especially in terms of the goodwill of the developing nations. India will host a meeting of WTO member countries in February to muster support for food security and other issues.
“We are in the process of working out how much global trade would contribute to world GDP (gross domestic product)”, he said. “We are shortly organising a major conclave in India following the disappointing end to the WTO’s 11th ministerial”, the Minister said. Given India’s competitive strength in services, this sector should be the focus, Prabhu said. The Minister also said India is now preparing a country-wise strategy for exports identifying new markets, which the government would facilitate through signing multilateral, as well as bilateral, agreements. India has been keenly pushing agriculture issues at the World Trade Organisation. He suggested that sectors such as IT should look at developing newer markets such as Latin America as markets such as U.S. and Europe were becoming saturated.

Leave a Reply

Your email address will not be published. Required fields are marked *