By: Vinod Kumar
On the third day of the 13th Ministerial Conference of the World Trade Organisation (WTO) in Abu Dhabi, India and South Africa successfully blocked a key proposal led by China.
The proposal in question, named the Investment Facilitation Development Agreement (IFD), is now unlikely to find a place in the final outcome document of the ongoing ministerial conference.
India articulated several concerns regarding the IFD during the discussions. Firstly, it contended that the IFD’s scope extends beyond the purview of the WTO, asserting that it is not strictly a trade matter falling outside the bounds of the Marrakesh agreement.
Secondly, India underscored that the IFD fails to meet the criteria for a formal agreement as it lacks unanimous support from all WTO members, thus lacking the exclusive consensus required.
By: Vinod Kumar