The informal gathering of trade ministers for a mini ministerial on the future of World Trade Organisation (WTO) concluded in Delhi today. The meeting was convened in the backdrop of US President Donald Trump terming the Geneva headquartered multilateral trade watch dog as a “catastrophe” and imposing tariffs on steel and aluminum at rates several times higher than WTO commitments.
While participating countries, including US, affirmed their support to a rule based global trading system, the meeting did not break the impasse on several trade issues, including the stalemate on the Doha development agenda. The action now shifts to Paris, where several trade ministers will meet at the sidelines of the Organisation for Economic Co-operation and Development (OECD) meeting in May this year.