Smarter News Now
  • About Us
  • Privacy Policy
  • Terms & Conditions
  • Contact Us
  • Email Whitelisting
No Result
View All Result
  • Top News
  • Economy News
  • Forex News
  • Investing News
  • Stock News
  • Politics News
  • Editor’s Pick
  • Top News
  • Economy News
  • Forex News
  • Investing News
  • Stock News
  • Politics News
  • Editor’s Pick
No Result
View All Result
Smarter News Now
No Result
View All Result
Home Investing News

WTO members near food pledges; India, Egypt, Sri Lanka hold out

by
June 14, 2022
in Investing News
0
WTO members near food pledges; India, Egypt, Sri Lanka hold out
0
SHARES
11
VIEWS
Share on FacebookShare on Twitter
PHILSTAR

GENEVA — World Trade Organization (WTO) members sought on Monday to forge agreements on food security to ease strained supply and sharply higher prices that the war in Ukraine have worsened, with only India, Egypt and Sri Lanka withholding support.

The 164-member trade body is seeking to reach two agreements at a major meeting of trade ministers this week in Geneva on steps to alleviate a food crisis that threatens the least developed and most vulnerable countries.

One would be a declaration to keep markets open, not restrict exports and be more transparent. The other would be a binding decision not to curb exports to the World Food Programme (WFP), which seeks to fight hunger in places hit by conflicts, disasters and climate change.

The International Monetary Fund has said that about 30 countries have restricted exports of food, energy and other commodities, including India with wheat.

WTO members expressed broad support for both texts, with the exception of Egypt, India and Sri Lanka, a WTO spokesperson told a news conference. Previously hesitant Tanzania decided to endorse the texts, the spokesperson added.

Egypt and Sri Lanka, both net food importers, want recognition that their ability to export food might be limited.

India, which has a history of blocking multilateral trade agreements, wants the WTO to allow developing countries to hold food stocks without facing penalties for breaching rules on farm support. WTO members agreed to such a shield in 2013, but only on a temporary basis.

Indian Commerce Minister Piyush Goyal said this was the “topmost priority” for the WTO meeting.

The UN High Commissioner for Human Rights and the Secretary-General of the United Nations Conference on Trade and Development called on WTO members earlier on Monday to refrain from imposing restrictions on exports of essential foodstuffs to vulnerable countries and the WFP.

The situation is particularly acute in Africa, which in 2020 imported about 80% of its food and 92% of its grains. — Reuters

ShareTweetPin

Related Posts

Stocks decline on profit taking, recession fears
Investing News

Stocks decline on profit taking, recession fears

August 23, 2022
Peso climbs vs dollar as RTB offer starts
Investing News

Peso climbs vs dollar as RTB offer starts

August 23, 2022
PNR cancels bids for 3 projects after finding them ‘non-feasible’
Investing News

PNR cancels bids for 3 projects after finding them ‘non-feasible’

August 23, 2022
Senate grills Rodriguez on approval procedures for sugar import order
Investing News

Senate grills Rodriguez on approval procedures for sugar import order

August 23, 2022
Trade dep’t expecting sugar price monitoring report by Friday
Investing News

Trade dep’t expecting sugar price monitoring report by Friday

August 23, 2022
Fisherfolk seek halt to reclamation on municipal fisheries
Investing News

Fisherfolk seek halt to reclamation on municipal fisheries

August 23, 2022
Next Post
World’s richest people have lost $1.4 trillion in 2022 after rapid gains

World’s richest people have lost $1.4 trillion in 2022 after rapid gains

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Email Address *
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!
 

Recommended

Dollar debts of Globe and SMC ‘sufficiently’ hedged: CreditSights

Dollar debts of Globe and SMC ‘sufficiently’ hedged: CreditSights

July 20, 2022
American Express announces SME travel spending is now exceeding pre-covid levels

American Express announces SME travel spending is now exceeding pre-covid levels

July 26, 2022
Meralco customers to see lower bills this month

Meralco customers to see lower bills this month

August 8, 2022
Top 5 Trends Influencing Biostimulants Market as of 2022 and beyond

Top 5 Trends Influencing Biostimulants Market as of 2022 and beyond

June 15, 2022
Total approved foreign investment pledges

Total approved foreign investment pledges

August 16, 2022
Tesla sued by former employees over ‘mass layoff’

Tesla sued by former employees over ‘mass layoff’

June 21, 2022
  • About Us
  • Privacy Policy
  • Terms & Conditions
  • Contact Us
  • Email Whitelisting

Copyright © 2022 SmarterNewsNow.
All Rights Reserved.

Disclaimer: SmarterNewsNow.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

No Result
View All Result
  • About Us
  • Contact Us
  • Email Whitelisting
  • Home
  • Privacy Policy
  • Terms & Conditions
  • Thank You

Copyright © 2020 SmarterNewsNow. All Rights Reserved.