nCommerce and Industry Minister Piyush Goyal on Thursday made a case for wholistic and comprehensive reforms of the World Trade Organisation (WTO) without ignoring the ground realities, especially the stark inequality among developed and developing nations.
He said instead of going for a piecemeal reform, the members should take on board issues of all countries of the WTO. “It is the time when all members of the WTO start looking at some of those reforms that have been pending for long. When we look at reforming the WTO, (it should be done) holistically and comprehensively. It cannot be pick and choose,” Goyal said.
He was speaking at a programme of South-South and Triangular Cooperation here.
“I do hope that as we look at reforming the WTO, a little bit more relevance to today and 21st century realities will come into play,” he added.
The statement comes at a time when the US has called for reforming the world trade body. The US wants formulation of some guidelines regarding special and differential treatment (S&DT), which is meant for developing nations.