From Our Foreign Correspondent
A provisional deal between major parties – India, South Africa, the United States and the European Union – emerged in May, but drew criticism from campaign groups that it falls short of what is needed. Goyal echoed that view. “My own sense is that what we are getting is completely half-baked and it will not allow us to make any vaccines,” he said.
The WTO has also pushed hard for a global deal to cut fishing subsidies, which would be only the second multilateral agreement since its creation 27 years ago and a demonstration of its relevance in an era of growing trade tensions. Goyal, in comments to delegates, said India was a strong advocate of sustainability, but its fishing industry did not operate huge fleets and relied on small-scale and often poor fishers. The minister said India and similar countries should be granted a 25-year transition period to phase out fishing subsidies, far longer than what most other WTO members have suggested.
To help bridge the gaps, some WTO members have already proposed to extend the meeting by further 24 hours.