They may discuss so-called ‘new issues’ considered important by the rich nations in today’s global tradeTrade ministers from various World Trade Organisation (WTO) member nations are slated to gather at the Norwegian capital, Oslo, in October to discuss the need for further liberalisation of global trade amid growing protectionism. The Oslo meet is also likely to discuss the so-called ‘new issues’ considered important by the rich nations in today’s global trade. Other new issues that can figure in the Oslo talks include e-commerce, global value chains & promotion of supply chains and the impact of ‘Brexit’ (British decision to leave the European Union) on global trade. India is preparing to take the lead in WTO-level talks to open up global services trade, especially to ensure easier movement of skilled professionals for short-term projects overseas. The ‘TFA in Services’ proposal, similar to the WTO’s TFA for Goods (aimed at easing customs norms & boosting global merchandise trade), was then welcomed by Azevêdo and several trade ministers.

Source: The Hindu August 28, 2016 17:15 UTC