WTO convenes key meeting of trade ministers on July 15 on fisheries subsidies
The chief of the World Trade Organization (WTO) has convened a meeting of all trade ministers on July 15 to iron out differences with regard to providing fisheries subsidies, sources said. The aim is to conclude the negotiations soon and after that a text is finalised so that an agreement on fisheries can be reached in the forthcoming ministerial meet of WTO in December in Geneva.
Hectic negotiations are going on in Geneva on the matter. The objective of these negotiations is to discipline subsidies with the overall objective to have sustainable fishing and to eliminate IUU (illegal, unreported and unregulated) fishing subsidies and prohibit subsidies contributing to overcapacity and overfishing.
“It will be an online meeting of the Trade Ministers. WTO Director General Ngozi Okonjo-Iweala has called the meeting of the trade negotiating committee on July 15 on the matter,” sources said.
Lack of product mix variety, failure to leverage GI tag led to tea exports slowdown: Experts
Shortage of product mix variety, high price of CTC brew and failure to leverage geographical indication (GI) tag in the overseas market are among the many reasons that have led to a slowdown in Indian tea exports, traders and planters said on Sunday.
In contrast, they felt, Sri Lanka, a major competitor of India in the global tea market, has managed to pip its larger neighbour by “concerted marketing efforts”.
“We used Darjeeling GI as a tool to legislate and threaten buyers whereas the need of the hour was to promote it with substantial funding on the lines of Colombian coffee and take international buyers with us.