WTO should reassess the way it works: Piyush Goyal

Union Commerce Minister Piyush Goyal said WTO should reassess the way it works

Union Commerce Minister Piyush Goyal said WTO should reassess the way it works

Says developed countries need “to do more” to achieve SDGs

New Delhi, Nov. 19 (Delhi Crown): Union Commerce and Industry Minister Piyush Goyal has said that the World Trade Organisation (WTO) needs to reassess the way it works, especially in the context of equitable market access and on extension of hidden subsidies.

Suggesting that developed countries needed “to do more” to meet their obligations such as providing clean and green technology to achieve Sustainable Development Goals (SDGs), Goyal said: “It think it’s so unfair! I can understand a discussion on which countries should be considered developing and which should now be considered developed, I think the world should be open to a discussion on that.”

“But to deprive countries from certain differentiated treatment in their business practices when they are at levels of $600-3000 per capita income and putting them on the same benchmark as a country which makes $60,000 or $80,000 per capita is grossly unfair,” he added.

“So, I think the developed world should look at their priorities,” Goyal said during an interaction at the CII Global Economic Policy Summit -2021 on Thursday.

Stating that the world is looking at India’s contribution to innovation and sustainability, Goyal said, “India is a land of disruptive ideas and our industries will play a critical role in growing our global footprint as we undertake bold reforms for achieving aggressive targets.”

He further stated that the government should not have a role to play in the running of business, rather it should act as a facilitator.

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