Piyush Goyal Elated on WTO MC12 Outcomes

·         Talks to Widen FTA Country Lists on

Piyush Goyal addresses a Press Conference on 20 June 2022 on the Outcomes of the 12th Ministerial Conference of the World Trade Organization that concluded in Geneva recently.

Minister was very happy and elated at the results.

“India is a deal maker and not deal breaker”, he remarked. WTO meet is successful only because of India.

India was involved in all decisions.

On food, the Minister said that India will not put any restrictions on WFP or purchases.

We are supplying 2 lakh tonnes of wheat to Afghanistan under WFP.

India will put up factories in LDCs to help them manufacture Covid vaccines.

Electronic commerce decision on taxes by Mar 2024, even as the developed countries were able to extend the moratorium by another two year.

Nasal spray, DNA based vaccines, mRNA vaccines are coming up, these will come up for inclusion in waiver list.

India will not gain much from TRIPS waiver, it only wish to help other countries. India can export 100 percent with TRIPS waiver. Earlier only 49 percent was allowed.

EU-India FTA: Formal EU India FTA talks began on 17 June. It will be a comprehensive agreement with special emphasis on investment.

The Minister said that a wide consultation process will underpin the FTA talks with Canada, EU, UK and Israel.