Search the Internet          Tips  Sites: Finance, Investment

India moots creation of Food Security Box under WTO

India demanded on Wednesday the creation of a Food Security Box within the framework of World Trade Organisation to safeguard the interests of the developing countries where farmers have been adversely affected by the decline in international prices of agricultural commodities.

"A FSB is urgently needed to remove the skewed nature of the present dispensation where the developed countries extend subsidies of $300 billion to a small community of affluent farmers while preventing the developing nations from doing the same," Agriculture Minister Ajit Singh said, addressing a conference of Food and Agriculture Organisationin Rome.

Singh said Indian food security is becoming increasingly vulnerable to liberal trade dynamics due to steady decrease in global prices of agro commodities and export volumes in all regions.

The majority of Indian farmers are engaged in subsistence farming and needed continued governmental support, he said, adding the proposed food security box will provide the special safeguard mechanism to protect them from surge in imports and enhance their competitiveness in world market.

The minister urged FAO to provide technical assistance to developing countries in sanitary and phyto-sanitary measures, support country-specific strategies for integrated watershed development and equitable management of water resources.

"Codex standards should be made more representative as often they do not reflect the conditions prevailing in developing countries," Singh said.

He also called for exchange in know-how on developments in bio-technology and risk assessment of genetically modified products.

ALSO READ:
India and the WTO: News and issues