US, EU seek WTO reform as meet starts

NEW DELHI: World Trade Organisation‘s ministerial meeting will kick off in Cameroon on Thursday, with reform of the 30-year-old multilateral body on top of the agenda of the US and European Union, while India will seek to push for farm trade reforms and retain the basic characteristics of the entity.At the meeting, which comes in the shadow of the conflict in West Asia, the US and EU are seeking to widen scope of the talks to cover new issues and recognise “plurilateral” agreements, which do not have participation of all member nations. Having gone for reciprocal tariffs, Washington has also denounced the most favoured nation principle, which provides for uniform tariffs for all countries.Protecting the livelihoods of small farmers and fishermen, while safeguarding policy space for developing economies in emerging areas, such as digital trade, will remain a central focus for India.