WTO Chief Urges India to Support China-Led Investment Proposal
WTO Director-General Ngozi Okonjo-Iweala encourages India to back the China-led Investment Facilitation for Development proposal, a controversial initiative endorsed by many developing countries. The proposal, debated at a mini-ministerial meeting hosted by Australia, seeks to navigate challenges within the multilateral trading system amidst ongoing reforms.
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World Trade Organization Director-General Ngozi Okonjo-Iweala has called on India to endorse the China-led Investment Facilitation for Development proposal. Many developing nations support the initiative, which includes 128 countries and aims to enhance investment rules under the WTO framework.
Okonjo-Iweala emphasized India's vital role in influencing other developing countries to support the proposal, which faces opposition due to concerns about diluting the multilateral nature of the World Trade Organization.
This call to action occurred at a mini-ministerial meeting in Geneva, which gathered trade ministers to discuss WTO reforms. The gathering serves as a precursor to significant discussions scheduled for the upcoming 14th ministerial conference in Cameroon next March.
(With inputs from agencies.)
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