WTO officials, commerce ministry review trade policies

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New Delhi | Published: November 20, 2014 4:21:19 AM

A team of World Trade Organization officials on Wednesday held talks with commerce ministry officials to review India’s trade policies.

A team of World Trade Organization officials on Wednesday held talks with commerce ministry officials to review India’s trade policies.

Trade Policy Reviews (TPR) are mandated in the WTO agreements, and accordingly member countries’ trade and related policies are examined and evaluated at regular intervals. During the TPR review meetings, the WTO team will, among other things, monitor measures that may have an impact on the global trading system including government subsidies as well as direct and indirect assistance for exports and investments, measures taken to protect certain sectors, especially agriculture, high duties on certain manufactured items, trade and investment restrictions, as well as frequent use of anti-dumping measures, according to sources.

Issues on the delay in the introduction and implementation of the proposed Goods and Services Tax, prohibition of foreign direct investment in some sectors such as retail as well as modernisation of the intellectual property rights regime and its implementation could also come up in the meetings that will be held over the next four or five days.

The WTO secretariat first prepares a detailed report on the trade policies and practices and this will be supplemented by the government’s policy statement. These two reports will then form the basis for the review, and are public documents, available on WTO website.

The last TPR of India was held in September 2011.

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