Developing nations should be allowed space to formulate development policy:SA
South Africa will use a two-day informal WTO Ministers' meeting in New Delhi starting Monday to push for recognising the necessity of policy space for developing countries, especially African countries, to pursue their development objectives, a senior minister said.
The meeting will be attended by six least developed countries and 16 developing countries, including China, Brazil, Saudi Arabia, South Africa, Bangladesh, Malaysia and Nigeria. The Director General of the World Trade Organisation (WTO) Roberto Azevedo would also attend the meet.
The meeting is taking place at a time when global trade is going through a period of uncertainty, with an increase in protectionism in some countries and a backlash against trade agreements and globalisation due to lack of inclusive growth, South Africa's Minister of Trade and Industry Rob Davies said ahead of his departure to India.
"We need to shape a multilateral trade environment that is conducive and supportive of industrialisation, and ...