Commerce Minister says govt successful at WTO without compromising on stockpiling issue

The country has won a major victory at Geneva with the World Trade Organization (WTO) accommodating its food security demands in a historic worldwide trade reform deal, which the government said was clinched without any conditions or concessions.

Making a suo moto statement on Friday in Lok Sabha on the trade agreement clinched at the WTO meeting at Geneva on Thursday night, Commerce Minister Nirmala Sitharaman said besides accepting its concerns on public stockholding, the deal by the WTO allows the country to continue with its policy to provide minimum support price to farmers.

"We have accomplished this without any concessions, compromise or new conditions," the commerce minister said, adding that the deal vindicated the principal stand the government had taken on food security.

The agreement, Sitharaman said, provides for continuing the "minimum support price policy which is a lifeline for millions of our low income resource poor farmer. It is also critical for food security in India and in countries which have similar policies".

As per the agreement reached on Thursday, the WTO nations have committed to ease customs norms to facilitate trade and also agreed to extend the 'peace clause' till a permanent solution is found regarding its foodgrain stock piling.

This is the first major trade pact reached by WTO ever since it came into existence in 1995.

Stating that the Centre stood firm on its food security concerns, she said it was able resolve differences with the US earlier in November and persuade it to accept the government's stand.

This paved way for the WTO deal, which had been in limbo for nearly two decades.