The ninth WTO Ministerial Conference would be held in Bali from December 3 to December 6. The Ministerial Conference is the highest decision-making body of the 158-member multi-lateral Organisation, which meets at least once every two years.
- For further progress of the WTO Doha round trade negotiations
- International pressure on India to limit food security.
- India risks stalling the Trade Facilitation Agreement (TFA) progress.
Under the TFA, a proposal of developed countries, WTO members are negotiating ways to facilitate trade, simplify and harmonise customs rules and reduce transactions cost => reduce trade friction.
About G-33:
- The G33 is a group of developing countries that coordinate on trade and economic issues. It was created in order to help a group of countries that were all facing similar problems.
- The G33 has proposed special rules for developing countries at WTO negotiations, like allowing them to continue to restrict access to their agricultural markets.
- Despite the name, there are currently 46 member nations.
