WTO members should develop a single understanding of agriculture, NAMA: India

New Delhi, Jan 29, IRNA – World Trade Organisation (WTO) members should develop a single understanding of agriculture and National Agri-Marketing Association (NAMA) and services, said India’s Minister of Commerce and Industry, Anand Sharma Tuesday in Bangalore, capital of South Indian state of Karnataka.

Addressing the three-day Confederation of Indian Industry (CII) Partnership Summit 2014 being organized in Bangalore, Sharma said that the Bali Ministerial protected the right of the developing countries to stockpile food. He said that the prospect of $1 trillion addition to world trade volumes in the post-Bali period was no mean achievement.

He said the Bali Ministerial underscored the centrality of the WTO in the rules-based multilateral trade system. He reiterated Mr Azevedo’s view that member countries need to develop a unified view of the three pillars -- agriculture, market access to non-agriculture goods, and services.

Union Minister said that trade facilitation is being driven by new technologies which will make exports much more competitive.

Mustapa Bin Mohammed, Minister of International Trade and Industry, Malaysia, said he expected world trade volumes to increase significantly in the wake of successes at the Bali Ministerial. He urged WTO to focus greater attention on addressing the issue of non-tariff barriers (NTBs). He also called for greater focus on accelerating SME business growth globally.

Meanwhile, S Iswaran, Minister in Prime Minister’s Office; Second Minister for Home Affairs and Second Minister for Trade and Industry, Singapore, said that that business should play a key role in promoting multilateral trade systems.

Ms Arancha Gonzales, Executive Director, International Trade Centre, Geneva, said that the emerging multilateral trade regime should provide an enabling environment for SMEs around the world. Ms Gonzales pointed out that the frontiers of global trade in goods and services is getting increasingly blurred, more so on countries like India. This needs to get reflected in the negotiations.

Speaking on the occasion Willam Danvers, Deputy Secretary General, Organisation for Economic Cooperation and Development (OECD), France, said that India with its strong IT and service capabilities is ideally placed to leverage the new opportunities that come with greater integration with global value chains.

The three-day event aims to highlight the investment opportunities in India.

The Partnership Summit 2014 an unrivalled platform that would enable close examination of the partnerships and synergies that will spark the next phase of global growth and develop strong multi-country linkages and networks that assist the transformation and act as catalyst to enable growth at a global level.