New Delhi, April 28 (IANS) Amitabh Kumar, Additional Secretary in Commerce Ministry, urged preserving the World Trade Organization’s (WTO) consensus‑based decision‑making and special and differential treatment for developing countries while warning against rising plurilateral approaches and non‑tariff measures, an official statement said on Tuesday.
In a virtual discussion, senior policymakers and experts examined the challenges confronting the WTO’s dispute settlement mechanism, particularly the continued non-functionality of the Appellate Body since 2019.
Centre for Trade and Investment Law, Indian Institute of Foreign Trade and South Asia International Economic Law Network conducted a virtual discussion on the evolving role of the World Trade Organization (WTO) in governing multilateral trade, amidst emerging geopolitical, technological, and economic challenges.
The discussion also addressed the erosion of key principles such as the most-favoured-nation (MFN) obligation and the growing invocation of national security exceptions in trade measures.
Prof. Mark Wu from Harvard Law School examined the broader factors affecting the WTO, including geopolitical contestation, technological transformation, and global economic imbalances. The discussion highlighted that these factors contribute to a period of transition for the multilateral trading system, with implications for the WTO’s future role and functioning.
In another event, India’s former Ambassador and Permanent Representative to the WTO, Ujal Singh Bhatia, emphasised the intrinsic link between carbon governance and global justice.
Experts critically examined the legal, ethical and economic implications of climate action instruments such as CBAM and other carbon pricing mechanisms, the statement from the Commerce and Industry Ministry said.
The panellists deliberated on key legal and policy dimensions of carbon border adjustment mechanisms and climate-linked trade instruments, emphasising the need to balance trade competitiveness with climate responsibilities and ensure equitable outcomes for developing nations.
The event brought together academicians, researchers, professionals, and students, to discuss sustainable trade practices and to reinforce the role of collaborative academic initiatives in shaping responsive and inclusive global trade governance frameworks, the statement noted.
–IANS
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