Image: Reuters Berita 24 English - The World Trade Organization 's all-night deliberations on food security, fishing, and vaccinations ...
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| Image: Reuters |
Berita 24 English - The World Trade Organization's all-night deliberations on food security, fishing, and vaccinations came to a halt about dawn on Thursday, with no apparent indication that efforts to overcome Indian opposition had succeeded.
For the first time in more than four years, ministers from more than 100 nations are convening at the global trade watchdog's headquarters in Geneva this week to hammer out new trade regulations, an accomplishment many question in an era of rising geopolitical tensions.
New global trade rules must be approved by all 164 members of the organization, which means that one country can stymie accords.
India was that member at this week's June 12-15 meeting, which was extended until Thursday afternoon. New Delhi, which has a history of sabotaging international talks, has kept to long-held demands for fisheries and agriculture subsidies, as well as further carve-outs, according to trade sources.
The words of Indian Commerce Minister Piyush Goyal backed up those requests.
"India is making a strong case for itself in the World Trade Organization.
must safeguard the futures of all Indians and the downtrodden, "On Twitter, he stated.
Here's a link to a Factbox about the WTO talks:
Delegates, including U.S. Trade Representative Katherine Tai, spent much of the night negotiating in the WTO's 'Green Room,' seeking to reach an accord. She shared a morning photo of Lake Geneva but didn't say anything about the conversations. Negotiations are expected to restart at 0700 GMT, according to trade sources.
According to a source close to the negotiations, ministers will be presented with a partial fisheries agreement that falls "far short" of prior iterations.
Throughout the sessions, WTO officials have insisted that agreements may be made, claiming that talks often appear hopeless until a final agreement is reached.
Observers were dissatisfied with the process.
"The ministerial (conference) exposed the growing dysfunction at the WTO that is impeding collective action," said Jake Colvin, president of the National Foreign Trade Council, who added that members should not reward "obstructionism."
