India mulls hosting second WTO meet

India mulls hosting second WTO meet
Highlights

India is planning to host the second informal meeting of trade ministers from about 20 member nations of the World Trade Organisation (WTO) here next month amid growing challenges for global trade, Commerce and Industry Minister Suresh Prabhu has said

New Delhi: India is planning to host the second informal meeting of trade ministers from about 20 member nations of the World Trade Organisation (WTO) here next month amid growing challenges for global trade, Commerce and Industry Minister Suresh Prabhu has said.

This meeting assumes significance as several countries are raising questions over the relevance of the global trade body. Many countries are also taking protectionist measures, impacting global trade.

"We are planning this (meeting) in May. We will be inviting about 20 WTO member countries this time," he said.

The US had imposed high duties on imports of certain steel and aluminium products, which triggered a major trade tariff tussle.

Recently, the WTO cautioned that the global trade will continue to face strong headwinds this year and in 2020 after growing slower-than-expected in 2018 due to rising trade tensions and increased economic uncertainty.

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