Piyush Goyal asks G-33 nations to strive for permanent solution to public stockholding

#agriculture reform, #Food Security, #Piyush Goyal, #public stockholding

Piyush Goyal | PC-MoneyControl

Ministry of Commerce & Industry Piyush Goyal on September 16 said that as part of the trust-building exercise for Ministerial Conference (MC) 12, G-33 must strive for positive outcomes on permanent solution to Public Stockholding (PSH) for food security purposes.

Speaking at the G-33 Virtual Informal Ministerial Meeting, organized by Indonesia, Goyal said as a first step in agriculture reform, the historical asymmetries and imbalances must be corrected in order to ensure a rule-based, fair and equitable order. Also, Goyal highlighted that Agreement on Agriculture at the WTO was riddled with deep imbalances, which favour the developed countries and have tilted the rules against many developing countries.

ALSO READ: Piyush Goyal calls on traders to make India global ‘trading hub’ where world comes to ‘shop’

He urged the G-33 members to work collectively to retain the cohesion of G-33 coalition and strengthen it further by reaching out to other like-minded developing groups to secure their support for a fair, balanced and development -centric outcome on agriculture at MC-12.

With the adoption of the G-33 Joint Ministerial Statement reaffirming commitment for expeditious resolution of the WTO’s mandated issues in agriculture, the meeting concluded.

Out of a total of 47 G-33 members, representatives from 21 member countries, including India, took the floor to make brief intervention. The Twelfth MC-12 is scheduled to be held from November 30, 2021 to December 3, 2021.

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