India and Russia Question Future Plastics Trade Rules at WTO

India and Russia have jointly raised concerns about potential conflicts between upcoming global rules on plastics trade and existing WTO norms during a WTO committee meeting. The discussions centered around a future UN meeting in Korea aimed at regulating plastics production, potentially affecting global trading standards.

India has aligned with Russia in raising concerns about potential clashes between future international regulations on plastic trade and World Trade Organization (WTO) norms, an official revealed on Wednesday.

Russia highlighted the issue during a recent WTO Committee on Market Access meeting held on November 19-20. Moscow emphasized that the upcoming UN Intergovernmental Negotiating Committee (INC) meeting on Plastic Pollution in Busan, Korea, might result in regulations affecting global plastics production, trade, and consumption.

Moscow's argument suggests such developments could undermine fundamental WTO principles like bound tariffs and the prohibition of quantitative restrictions. India, a significant exporter of plastics, with a 14.37% increase in exports hitting USD 5.21 billion from April to October, and Saudi Arabia, have echoed these concerns.

(With inputs from agencies.)