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Context

• The World Trade Organization (WTO) held its 13th Ministerial Conference (MC13) in Abu Dhabi in the UAE.

Details

• Location and Dates: Held in Abu Dhabi, UAE, between February 26 and March 2, 2024.
• Attendance: Attended by 166 member countries.
• Ministerial Declaration: Adopted at the conclusion, setting a forward-looking, reform agenda for the WTO.

Key Decisions

• Dispute Settlement System: A renewed commitment to have a fully functioning system by 2024.
• Special and Differential Treatment (S&DT): Resolved to improve its use for developing and least developed countries (LDCs).

Challenges to the Multilateral Trading Order

• Inward Turn in Developed Economies: Vocal movement seeking to move away from a globalized and harmonized tariffs approach.
• Conflicts and Sanctions: Threatening supply chains and the smooth flow of goods and services worldwide.
• Development Disparities: Highlighting the need to avoid a 'one-size-fits-all' approach to norms.

India's Approach

• Public Stockholding (PSH) Programme: Focus on resolving concerns regarding food security.
• Fisheries Sector: Advocated for developing countries to subsidize poor fishermen within their exclusive economic zones (EEZs).
• E-commerce: Pushed for an end to the moratorium on customs duties on cross-border e-commerce.

Outcomes at MC13

• Agriculture: First time in over two decades a text was agreed upon, signifying progress.
• Fisheries: Consensus close to being reached by mid-year.
• E-commerce: Disappointingly for India, the exemption from customs duties continues for at least two more years.

READ ALL ABOUT WTO: https://www.iasgyan.in/daily-current-affairs/world-trade-organization#:~:text=It%20was%20established%20on%20January,its%20working%20is%20Consensus%2Dbased.

WTO Reforms: https://www.iasgyan.in/daily-current-affairs/wto-reforms#:~:text=India%20has%20maintained%20that%20it,intact%2C%20it%20needs%20to%20change.

PRACTICE QUESTION Q. Critically assess the criticisms against the World Trade Organization (WTO) regarding its impact on global trade governance. Discuss the concerns of developing countries and propose reforms to enhance the WTO's effectiveness and inclusivity.