India tries hard to keep multilateralism intact at WTO despite pressure

NEW DELHI: Ahead of the crucial ministerial conference of the World Trade Organization ( WTO) in Argentina in December, India is trying hard to keep multilateralism intact at the intergovernmental trade body.

In a series of tweets on Tuesday, commerce and industry minister Suresh Prabhu said: "Trying hard to ensure multilateral WTO remain intact,despite huge pressures. Having several bilaterals with all important countries".

Prabhu is attending the WTO's two day mini ministerial in Marrakech which has trade ministers of select 40 countries deliberating the agenda for the Argentina meeting.

"Very sure we shall benefit immensely from participation of these countries with India's economy," he tweeted.

His statement comes in the wake of emergence of regional trading agreements like the Regional Comprehensive Economic Partnership (RCEP) and Trans Pacific Partnership. India is part of the 16-member RCEP.

"Multilateralism is under threat also because key players like the US and EU not actively or aggressively participating in the WTO," said a Delhi based expert on trade matters.

It is also important for India as it the WTO failed to reaffirm the Doha Development Agenda, India's main demand at the previous ministerial in Nairobi.

New Delhi is likely to reiterate its demand for a permanent solution for public stockholding (PSH) of food grains and the continued relevance of the Doha Development Agenda at the ongoing mini ministerial.