Failure on food security agreement may damage WTO’s credibility, says India
India says an imminent failure to agree to a permanent solution on public stockholding for food security purposes at MC11 may irreversibly damage the credibility of WTO
At the 11th edition of the WTO's ministerial conference (MC11), India's failed in its bid to find a permanent solution to food security issue. Under the global trade norms, a WTO member country's food subsidy bill should not breach the limit of 10 per cent of the value of production based on the reference price of 1986-88.
India's attempts to find a permanent solution to the food stockpile issue at the 11th edition of the ministerial conference (MC11), has hit a roadblock as the US refused to engage, threatening a successful conclusion of the four-day conference.
Without naming the US, an official statement said, "India is surprised and deeply disappointed that despite an overwhelming majority of members reiterating it, a major member country has reneged on a commitment made two years ago to deliver a solution of critical importance for addressing hunger in some of the poorest countries of the world."
"...A major country stated categorically that they cannot agree to any permanent solution on the public stockholding at MC11. This has posed a severe threat to a successful conclusion of the conference as there was a ministerial mandate for a permanent solution by the MC11," it said.