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WTO Must Share Innovation Equitably, Says Piyush Goyal at MC14

Commerce Minister Piyush Goyal has stressed that the WTO must ensure innovation and opportunity are shared equitably, addressing historical imbalances from the Uruguay Round. He reiterated India's commitment to constructive engagement to keep the WTO central to global trade. On the sidelines of the MC14 conference in Cameroon, Goyal held meetings with trade ministers from the US, Canada, New Zealand, Morocco, and others. These discussions focused on advancing bilateral trade agreements and exploring ways to deepen economic cooperation.

Key Points: Piyush Goyal: WTO Must Ensure Equitable Sharing of Innovation

  • Address Uruguay Round asymmetries
  • Ensure fair opportunity for all members
  • India's constructive engagement for WTO centrality
  • Progress on bilateral trade agreements
  • Strengthening economic cooperation with key partners
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Innovation, opportunity must be shared equitably among WTO members: Piyush Goyal

Commerce Minister Piyush Goyal emphasizes equitable opportunity at WTO MC14, meets US, Canada, New Zealand, and other trade counterparts.

"WTO discussions must address the asymmetries from the Uruguay Round - Piyush Goyal"

New Delhi, March 28

Commerce and Industry Minister Piyush Goyal has emphasised that WTO discussions must address the asymmetries from the Uruguay Round, underlining the importance of all members having a fair opportunity to build productive capacity, create employment, and participate meaningfully in global trade.

The minister said that the multilateral trading system must ensure that innovation, development and opportunity are shared equitably among Members. He also stated India's commitment to engage constructively so that the WTO remains central to global trade.

Goyal, who is attending the 14th Ministerial Conference (MC14) in Yaounde, Cameroon, also met several world leaders on the sidelines of the event, including US ‌Trade Representative Jamieson Greer.

"Exchanged views on the WTOMC14 agenda, next steps in the India-US BTA negotiations and explored ways to further deepen our economic cooperation and bilateral trade ties," Goyal said about his meeting with Greer.

He also met Canada's Minister of International Trade, Maninder Sidhu, and reviewed progress on the recently launched India-Canada CEPA negotiations, and explored ways to further strengthen our bilateral trade and economic cooperation.

During his meeting with Todd McClay, Minister for Trade and Investment of New Zealand, the leaders exchanged views on the progress of the MC14 agenda and reviewed ongoing work towards the signing of the recently concluded India-New Zealand FTA.

"Also discussed avenues to further enhance bilateral trade and investment while strengthening cooperation across key sectors of mutual interest," said Goyal.

He also met Omar Hejira, Secretary of State to the Minister of Industry and Trade, in charge of Foreign Trade, Kingdom of Morocco, and reaffirmed "our historical partnership and explored ways to further strengthen bilateral trade and investment cooperation".

Goyal met Dwight Fitzgerald Bramble, Minister of Foreign Affairs, Foreign Trade, Foreign Investment and Diaspora Affairs of Saint Vincent and the Grenadines, and Kamina Johnson Smith, Senator and Minister of Foreign Affairs and Foreign Trade of Jamaica.

- IANS

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Reader Comments

S
Sarah B
It's encouraging to see India actively engaging with so many partners, from the US to smaller nations like Jamaica. Building these diverse trade networks is key to resilience. The focus on equitable opportunity is the right one for global stability.
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Priya S
Absolutely correct! The Uruguay Round agreements did put developing economies at a disadvantage. Hope this time our negotiators stand firm on protecting our farmers and MSMEs. "Equitable sharing" cannot remain just a slogan.
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Rohit P
Good to see progress on FTAs with Canada and New Zealand. More trade agreements mean more choices and potentially lower prices for consumers here. But the government must ensure these deals actually benefit our manufacturing sector, not just imports.
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Michael C
While the principle is sound, I hope this isn't just talk. The WTO has been gridlocked for years. Real "equitable sharing" requires concessions from powerful nations, which they are historically reluctant to give. Action is needed, not just meetings.
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Kavya N
The bilateral meetings are as important as the big conference. Strengthening ties with Africa (Morocco) and the Caribbean shows a smart, diversified foreign trade policy. Jai Hind!

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