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New Group in WTO
June 17 , 2018
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- India is considering bringing together group of 8-10 member countries of World Trade Organisation (WTO) to prepare agenda for creation of conducive atmosphere to ensure smooth functioning of the global trade body.
- It would be an informal group within the World Trade Organisation (WTO), which may also include nations like Brazil, China, South Africa, Indonesia and Columbia.
BACKGROUND
- The talks at WTO’s 11th Ministerial Conference held in Argentina's Buenous Aires in December 2017 had collapsed after US went back on its commitment to find permanent solution to public food stockholding issue, a key matter for India.
- Following the collapse, India had organised mini-ministerial meeting of about 45 WTO members in March 2018 to revitalise multi-lateral trade body.
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