India and Germany commit to reform WTO

On Monday, India and Germany pledged to reform the World Trade Organization with a view to strengthen its principles and functions as well as preserve the autonomy of the global trade organization. Other than reforming the World Trade Organization, both the nations also expressed their strong support for the upcoming negotiations between the European Union and India on a Free Trade Agreement, an Investment Protection Agreement, and an Agreement on Geographical Indications. According to a joint statement issued after the 6th India-Germany Inter-Governmental Consultations, both the nations later highlighted the extensive potential of such pacts for expanding bilateral trade and investment.

The meeting between both nations was held under the co-chairmanship of Prime Minister Narendra Modi and German Federal Chancellor Olaf Scholz. Germany and India while highlighting the importance of rules-based, open, inclusive, free, and fair trade, emphasized the importance of the World Trade Organisation as the center of the multilateral trading system and central pillar of integrating developing countries into the global trading system. The Joint Statement said, "Both governments committed to reforming the WTO with the objective of strengthening its principles and functions, especially, preserving the two-tier appellate body, along with the autonomy of the appellate body.”