Before we can rebuild trust and credibility, we must address mandated issues: Piyush Goyal to WTO

13 Jun 2022 , 10:34 AM

India said on Sunday (12-06-2022) that member nations must first solve mandatory concerns, such as the permanent solution to public stockholding, which was accepted almost a decade ago, in order to re-establish confidence and credibility in the WTO.

“The present global food crisis serves as a stark warning that we must act now! Can we put the lives of millions of people who rely on food reserves for the poor and vulnerable at risk? “Piyush Goyal, the minister of trade and industry, was posed this question. According to him, the COVID-19 epidemic has demonstrated the world’s failure to respond quickly to any catastrophe, whether it involves food security, health, economic well-being, or open supply chains.

“We must first handle mandatory concerns, such as the permanent solution to public stockholding agreed upon over a decade ago,” he continued. Meanwhile, a source claimed the WTO is debating publishing a declaration stating that nations would not put export limits on WFP procurements (World Food Programme).

This proclamation has the support of 81 nations. WFP has said in all official records that it is having finance issues; it has never stated that it is having difficulty with export limits.

“The disconnected nations demanding for a decision on export limits is really peculiar,” the source added because the majority of WFP procurements and deliveries are in poor countries.

India opposes granting the UN’s World Food Programme a binding obligation under the WTO because it would limit its policy options for dealing with domestic food security challenges.

India has been a major donor to the World Food Programme. It was the largest donor in 2015.