WTO talks ended here with ministers making no headway on key issues agriculture and fisheries, while India and other countries are likely to agree to extension of customs duty waiver for e-commerce by another two years.
Trade ministers from across the world refused to budge from their stated positions on reducing farm subsidies or lowering subsidies, resulting in the impasse continuing despite talks being extended by over a day.
Indian officials appeared satisfied with the outcome, arguing that they did not yield ground on any of the issues and the permanent peace clause on procurement of foodgrains for the public distribution system gave govt the freedom to buy as much as it wanted despite the “flawed formula” which counted payments above Rs 3.20 a kg of wheat or rice as subsidy.
The permanent peace clause means that despite breaching the ceiling of 10% of value of production, linked to prices prevailing in 1986-88, countries cannot be dragged to WTO for violation of trade rules.
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