PM Modi slams protectionist, unilateral trade moves

NEW DELHI: Prime Minister Narendra Modi on Friday criticised unilateral and protectionist decisions in trade, seeking instead a rules-based, anti-discriminatory and WTO-led inclusive system that would address the needs and aspirations of stakeholders globally.

“We need a rules-based, transparent, anti-discriminatory, open and all-inclusive WTO-centred multilateral trading system focused so that the interests of every country, especially the developing ones, can be taken care of,” the Prime Minister said.

The Shanghai Cooperation Organization’s (SCO) joint communique echoed the Indian Prime Minister’s sentiments. “They (member states) believe that unilateral protectionist actions in violation of WTO rules and regulations undermine the multilateral trade system and threaten the world economy and trade,” the SCO statement said. “(They) note that the WTO remains a key body for discussion of the multilateral trade agenda and formulation of the multilateral rules of international trade.”


ET had reported on Monday that India would join China and Russia at SCO for an effective multilateral trade system. “While confirming their commitment to the fundamental principles and rules of the WTO, the SCO member-states support greater efforts to improve the efficiency of the organisation,” said the joint communique.