WTO members share India’s concern on EUDR
India’s concerns on the EU’s new Regulation on Deforestation-Free Products (EUDR), which would restrict exports of several items to the bloc from this year-end (December 30, 2024), have been shared by several other WTO members who all asked for its postponement at a recent meeting in Geneva. New Zealand, Australia, Brazil, Indonesia, Paraguay, Ecuador, Guatemala, Thailand and the United States all shared their misgivings on the new law which requires a variety of agricultural products sold in the EU market to be deforestation-free, and asked for postponement of its implementation. An estimated $1.3 billion of Indian exports to the EU could be affected once the EUDR is in place, as per the Global Trade and Research Initiative (GTRI). This is because the rules would not only apply to the seven identified commodities–cattle, cocoa, coffee, oil palm, rubber, soya and wood–but also items derived from these, as per a report.
Source: Exim News Service: Geneva, June 10