Over 160 countries are taking part in the 12th ministerial meeting of the World Trade Organization at Geneva. And divergences between developed and developing countries may make it challenging for them to agree on issues plaguing the global economy. Mint explains:
What key issues are being negotiated?
The WTO’s 164 member-countries are engaged in talks on five broad themes—food security and agriculture; fisheries subsidies; intellectual property rights waiver on covid-19 vaccines and pandemic response; WTO reforms; and extension of a moratorium on customs duty on e-transmission. While India and other developing countries are pressing for a fair, equitable and balanced outcome, the draft agreements on the table seem to favor developed countries. India is fighting for the right to stockpile and export foodgrains, the right to subsidise the fisheries sector, and taxing digital imports.
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