Following are the highlights of the 10-page WTO ministerial declaration paving the way for a development round of negotiations:
  • Agriculture: Cuts in tariffs, reduction of export subsidies with a view to phasing out substantial reductions in trade-distorting domestic subsidies.

  • Services: Increasing access for banking, insurance and other companies and increasing opportunities for people to work in other countries.

  • Non-agricultural goods: Reducing and eliminating tariffs and other barriers, particularly on products that are important to developing countries.

  • WTO rules: Subsidies for goods like steel and textiles and when anti-duties could be imposed on them. Improvements to the system for settling disputes.

  • Environment: The relationship between WTO rules and international environmental treaties, reducing or eliminating tariffs on environmental goods and services, fisheries subsidies.
    • Establishing a system of registration and protection for wines and spirits known by the region where they are made like campaign. Extension of this geographical indications to other items like basmati to be looked into.

  • Singapore issues : Investment, competition policy, transparency in government procurement and trade facilitation could be subject of negotiations in two years, if all governments arrive at a consensus.
    • Bureau Report