India thwarts China’s attempt for investment facilitation proposal at WTO

South Africa backed India’s move to block the proposal. The 123-member group led by China tried to push the proposal in the working group meeting on development and India objected to that.

India thwarts China’s attempt for investment facilitation proposal at WTO

India on Wednesday blocked an effort by a group of World Trade Organization (WTO) countries, spearheaded by China, from pushing forward an investment facilitation pact during the ministerial conference, a move which may ensure that the proposal is unlikely to be part of the final outcome document, an official said.

South Africa backed India’s move to block the proposal. The 123-member group led by China tried to push the proposal in the working group meeting on development and India objected to that.

The 13th Ministerial Conference (MC-13) of the World Trade Organisation (WTO) is underway.

Commerce and Industry Minister Piyush Goyal, along with his team, is here for the meeting, which started on February 26.

“India blocked it in December last year also and in the General Council Meeting of the WTO. This is not an agreement as per definition. It is debatable whether it is a trade agreement,” the official said.