WTO MC12: Draft on fisheries subsidies does not meet India's demands

The draft specifies a transition period of seven years for developing nations, instead of 25 years, for exempting some developing countries from subsidy cuts

The World Trade Organization's (WTO’s) 12th ministerial conference (MC) is set to kick-start today, looking to reach a consensus on a variety of issues like food security, regulating fisheries subsidies, as well as intellectual property waiver for Covid-19 vaccines.
 
The MC generally takes place once every two years, but trade ministers are meeting after four years this time because of the Covid-19 pandemic.
 
A committee for negotiations on fisheries subsidies on Friday finalised the draft to be taken up by the ministerial which is not in line with India’s demand to put an end to non-specific fuel subsidies.