NEW DELHI, May 13 — Malaysia is attending the World Trade Organisation (WTO) ministerial meeting of developing countries here to discuss new challenges to a rule-based global trading system.
Ministry of International Trade and Industry (MITI) secretary-general Datuk Lokman Hakim Ali and Dr Rashidi Said, Malaysia’s permanent representative to the WTO in Geneva, represented the country at the two-day meeting that began on Monday.
The meeting is an effort to bring together developing countries and least developed countries (LDCs) on a platform for sharing common concerns and push for WTO reforms.
India commerce secretary Anup Wadhawan said challenges to the multilateral rules-based trading system are manifested in a spate of unilateral measures and counter-measures, deadlock in key areas of negotiations and an impasse in the WTO’s dispute settlement mechanism.
“The fundamentals of the system are being tested through a tide of protectionism around the world.
“The reform initiatives must promote inclusiveness and non-discrimination, build trust and address the inequalities and glaring asymmetries in existing agreements,” India’s Ministry of Commerce said in a statement.
Agriculture is a key priority for a large number of WTO members representing the developing world.
Six least developed countries and 16 developing countries, including Argentina, Bangladesh, Brazil, China, Egypt, Indonesia, Nigeria, and South Africa, are attending the WTO ministerial meeting. — Bernama
