Prime Minister Narendra Modi has reiterated India’s commitment to a rule-based multilateral trading system, based on the principles of inclusiveness and consensus.
Mr Modi said, this while interacting with the Ministers and Senior Dignitaries, who attended the Informal WTO Ministerial Meeting in New Delhi yesterday.
He said, a robust conflict resolution mechanism is one of the key benefits of the World Trade Organization.
The Prime Minister said, it is important to counter the challenges being posed to the multilateral trading system. He noted that decisions taken in the Doha Round and Bali Ministerial Meeting are yet to be implemented. Mr Modi re-emphasized the need for a compassionate approach towards the Least Developed Countries. He expressed satisfaction at the enthusiastic response to India’s invitation for the informal meeting.
The Prime Minister said, this is an expression of global confidence in multilateralism, and the principles of the WTO. An official release said, during the interaction, various aspects related to multilateral trade came up for discussion. Several Ministers appreciated India’s initiative in hosting this Ministerial meeting.