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LATEST NEWS UPDATES | Members make fresh attempt for deal as WTO meet stretches-Sidhartha

Members make fresh attempt for deal as WTO meet stretches-Sidhartha

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published Published on Dec 6, 2013   modified Modified on Dec 6, 2013
-The Times of India


BALI: The World Trade Organization (WTO) is making a fresh bid to break the deadlock with the multilateral body set to propose its own package to trade ministers from 159 countries amid clear signs that the meeting will go beyond its scheduled close.

WTO director general Roberto Azevedo spent the night holding consultations with commerce and industry minister Anand Sharma and US trade representative Michael Froman stretching until 3am on Friday.

Ministers were back at 9am for select meetings and the WTO chief followed it up with discussions with representatives of all member countries, where he proposed that he will float his own text so that a package can be finalized.

The statement came even as India held firm, rejecting the the offer given to it to break the impasse on food security. "The text was not acceptable to us and we turned it down. Now the director general will put together a package which will only be accepted if everyone is comfortable with it," said an Indian government negotiator.

The focus so far seems to be on breaking the logjam on food security. The Indian official said that once a deal on food security is in place, the government will have to take a call on how far it can support the trade facilitation agreement that will be the first since WTO was set up nearly two decades ago. The proposed agreement is aimed at easing controls for flow of goods via ports and airports, with WTO claiming that it will unleash a $1 trillion stimulus for the global economy.

The government has concerns over the proposal on expedited shipments that will force it to give speedy approvals to courier and een air cargo, if the US has its way. In addition it is not comfortable with proposals on penalties and rejected shipments.

"A deal on food security will have a catalytic effect on trade facilitation... A deal on food security will be very helpful for a complete package," WTO spokesperson Keith Rockwell told a press conference.

Sharma, who was to fly out of Bali around 4pm on Friday is said to have postponed his departure with a decision not expected before early evening.


The Times of India, 6 December, 2013, http://timesofindia.indiatimes.com/business/india-business/Members-make-fresh-attempt-for-deal-as-WTO-meet-stretches/articleshow/26944371.cms


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