New Zealand Supports India's Position on Public Stock Holding at WTO Conference

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By  News On Air   Mar 02, 2024

At the ongoing 13th Ministerial Conference of the World Trade Organization, New Zealand's Trade Minister Todd McClay, who also serves as the Vice Chair of the conference, voiced support for India's stance on public stockholding.

 

Speaking from the conference venue in Abu Dhabi, Minister McClay emphasized the importance of addressing concerns raised by India and other developing nations regarding public stockholding. He underscored the fundamental right of countries, particularly those in the developing world, to ensure food security for their populations. McClay stressed the necessity of crafting rules and agreements at the WTO that safeguard food security without adversely impacting global markets.

 

"The conversation around public stockholding, especially led by India, is of great significance," stated McLay  "It is imperative that WTO members come together to find solutions that uphold the right of nations to feed their populations while ensuring market stability."

 

The Minister also highlighted the ongoing discussions on fisheries, pointing out the need to curb harmful practices and ensure sustainable fishing practices globally. He emphasized New Zealand's commitment to fostering sustainable fishing practices, particularly in smaller developing countries with burgeoning fishing industries.

 

The Minister's support for India's stance on public stockholding underscores the growing consensus among WTO members to address pressing issues related to food security and agricultural sustainability. As discussions had entered an unscheduled 5th day at the conference with the formal Closing Session postponed multiple times,  stakeholders remain optimistic about forging agreements that strike a balance between national interests and global trade dynamics.