Arab Today, arab today india holds firm on blocking global customs deal
Last Updated : GMT 06:01:51
Arab Today, arab today
Arab Today, arab today

India holds firm on blocking global customs deal

Arab Today, arab today

Arab Today, arab today India holds firm on blocking global customs deal

India'a Nirmala Sitharaman addresses a press conference
New Delhi - AFP

India on Friday said it wanted "visible" signs the World Trade Organization would agree to its vast food subsidy schemes before approving a landmark global customs pact as talks went down to the wire.
Refusal by India to endorse the agreement streamlining customs procedures could derail the first big global trade reform by the WTO in two decades.
The deal must be ratified by all WTO members by July 31 and is to be implemented in mid-2015.
But Indian Commerce Minister Nirmala Sitharaman told parliament New Delhi "would find it difficult to join the consensus" unless it gets WTO assurances on freedom to roll out food security programmes for its hundreds of millions of poor.
Sitharaman's statement came as WTO members were in Geneva for what was envisioned as rubber-stamp approval of the Trade Facilitation Agreement or TFA, reached in Bali last year.
The agreement is aimed at lowering trade barriers and spurring trade between developing and developed countries and could add $1 trillion to the global economy, WTO officials say.
While there has been progress on the trade deal, other decisions on food stockpiling and other development issues "have been sidelined", Sitharaman said.
India wants "visible outcomes" demonstrating WTO members "will engage in negotiations with commitment to find a permanent solution on public stockholding", she said.
Separately, India's government in a statement late Friday said it had told fellow WTO members it lacked "trust that there will be constructive engagement on issues that impact the livelihood of a very significant part of the global population".
- Food stockpile 'peace clause' -
Prime Minister Narendra Modi's Bharatiya Janata Party government, elected in May, warned earlier this month it might not ratify the pact, citing worries about WTO acceptance of its food stockpile and subsidies programme, a hot-button political issue with many poor voters.
The WTO can approve the trade agreement by a simple majority but this would be highly unusual as it normally operates by consensus.
Under India's government stockpile programme, grain is bought from farmers at often higher-than-market rates and sold at subsidised prices to the poor.
Rich WTO member nations say food stockpiles and subsidies distort trade.
When the Bali deal was struck, WTO members agreed on a "peace clause" to allow India's food stockpile programme with no penalties until a "permanent" solution by 2017.
But since then there have been 20 meetings on the trade pact and just two on agriculture, Indian officials say.
While the European Union said in a statement failure to adopt the pact would mean loss of "a great opportunity to mobilise trade as an instrument for growth" and damage WTO credibility, Indian business leaders urged the government to stand firm.
"India must hold its ground" and developed countries "must be told in clear terms the issue of farmers' security and welfare of the poor is not negotiable", the Association of Chambers of Commerce and Industry of India said late Friday.

 

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today india holds firm on blocking global customs deal Arab Today, arab today india holds firm on blocking global customs deal

 



Arab Today, arab today
Arab Today, arab today Jordan airline suggests flyers 'talk'

GMT 11:59 2017 Friday ,24 March

Jordan airline suggests flyers 'talk'
Arab Today, arab today Sheds light on major steps in 12-year career

GMT 06:07 2017 Monday ,27 February

Sheds light on major steps in 12-year career
Arab Today, arab today Dozens dead in US-led Syria strikes

GMT 08:35 2017 Thursday ,23 March

Dozens dead in US-led Syria strikes
View News in Arabic - Business: اقتصاد دولي
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Yemen children dream of school

GMT 07:25 2017 Friday ,24 March

Yemen children dream of school
Arab Today, arab today MP submits a petition to dismiss university head

GMT 06:21 2017 Friday ,24 March

MP submits a petition to dismiss university head
Arab Today, arab today Salvage of South Korea's Sewol ferry

GMT 04:51 2017 Friday ,24 March

Salvage of South Korea's Sewol ferry
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Audi RS 5 Coupe acquires new design

GMT 13:22 2017 Thursday ,23 March

Audi RS 5 Coupe acquires new design
Arab Today, arab today Renault Trezor wins design award

GMT 11:56 2017 Tuesday ,21 March

Renault Trezor wins design award
Arab Today, arab today Merna Waleed praises her work with Soad Hosni

GMT 07:03 2017 Wednesday ,22 March

Merna Waleed praises her work with Soad Hosni
Arab Today, arab today 2017 already marked

GMT 15:25 2017 Tuesday ,21 March

2017 already marked

GMT 07:12 2017 Tuesday ,21 March

Donia Abdel Aziz participates in "Game of Silence"

GMT 22:00 2017 Thursday ,23 March

Number of unwedded girls amounts to 2.5m

GMT 10:34 2017 Tuesday ,21 March

Mexico threatens to ditch US corn imports

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"

GMT 07:38 2017 Friday ,24 March

Pass health bill Friday or he'll move on

GMT 07:36 2017 Wednesday ,22 March

US, Britain ban laptops on flights

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday