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WTO Functioning Should Become More Transparent And Effective: Goyal

Goyal also said that in all such reforms, we must ensure that multilateral rule-making processes are neither bypassed nor diluted

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The primary objective of the World Trade Organisation(WTO) is to serve as the mechanism through which international trade can support the economic development of members, particularly the developing countries and the least developed countries, said Union Minister Piyush Goyal at the 12th ministerial conference of the WTO in Geneva.

During the thematic session on WTO reform, Goyal said that we need to accord priority to the reform needs, especially to the crisis at the appellate body, whose functioning should become more transparent and effective. 

"The number of suggestions for reforming the WTO could result in fundamental changes in the institutional architecture thereby, running the risk of skewing the system against the interest of developing countries," Goyal said. 

Therefore, the principles of non-discrimination, predictability, transparency very importantly, the tradition of decision-making by consensus and the commitment to development underlying the multilateral trading system is sacrosanct, he added. 

Goyal also said that in all such reforms, we must ensure that multilateral rule-making processes are neither bypassed nor diluted.

India strongly supports robust WTO reforms and a modernisation agenda that is balanced, inclusive and preserves the core principles of the current multilateral system. We should also agree to address the existing asymmetries implicit in the Uruguay Round agreements, Goyal continued.


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Union Minister piyush goyal ministerial conference wto