Arab Today, arab today india insists on food subsidy deal before trade pact
Last Updated : GMT 19:58:14
Arab Today, arab today
Arab Today, arab today

India insists on food subsidy deal before trade pact

Arab Today, arab today

Arab Today, arab today India insists on food subsidy deal before trade pact

Indian labourers load sacks of rice onto a truck at a storage facility
New Delhi - AFP

India insisted Wednesday it would not endorse a landmark global trade pact unless it is allowed to subsidise food for its vast poor population.
New Delhi in July torpedoed the Trade Facilitation Agreement (TFA) to reduce trade barriers, demanding quicker progress on exempting its food stockpiles from possible punitive action by the World Trade Organisation.
"We think (the stockpiling issue) is important for India," Commerce Minister Nirmala Sitharaman told a news conference.
"We shall not wait for an interminable period to get an agreement (on the matter)."
At the same time, Sitharaman said India supported in principle the trade accord, which experts say would inject $1 trillion into international commerce.
"The nation's intent and interest being very pro-trade facilitation, what can be the reservation we have regarding signing the WTO TFA?" Sitharaman asked.
"Yes, we want to go ahead with the agreement."
Lately, India has come under pressure from fellow Asian nations, such as China, Japan and South Korea, to allow the TFA to go through. The Association of Southeast Asian Nations (ASEAN) voiced concern last month over delay in the TFA's implementation.
On Tuesday Prime Minister Narendra Modi declared New Delhi does not oppose "rule-based" trade but added that the poor's interests could not be sacrificed.
The Asian Development Bank recently calculated that 47.7 percent of India's 1.25-billion population lived below a poverty line of $1.51 a day in 2010.
Stockpiling and subsidies for the poor are considered trade-distorting under existing WTO rules.
All 160 WTO members including India agreed to implement the TFA -- which would mark the first big global trade liberalisation deal in two decades -- at a 2013 meeting in Bali. India's move to hold up the deal in July surprised fellow WTO members. 
The agreement was due to take effect in mid-2015. 
At the time of the Bali accord, WTO members agreed on a four-year "peace clause" to protect India from being punished over subsidies and stockpiles until a "permanent" solution" was reached.
But after the Bali pact, Indian officials complained there were nearly two dozen meetings on the trade facilitation pact and just a handful on subsidies.
Other WTO members have sought to assure India its concerns will be met satisfactorily.

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 insists on food subsidy deal before trade pact Arab Today, arab today india insists on food subsidy deal before trade pact

 



Arab Today, arab today
Arab Today, arab today Ideen Belmahdy happy to be part of “ Fashion Star”

GMT 17:00 2017 Sunday ,26 February

Ideen Belmahdy happy to be part of “ Fashion Star”
Arab Today, arab today Tourist guide explains types of tourism

GMT 18:28 2017 Saturday ,25 February

Tourist guide explains types of tourism
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Iran complying with nuclear deal

GMT 07:14 2017 Saturday ,25 February

Iran complying with nuclear deal
Arab Today, arab today Ayat Abaza says state TV presented major stars

GMT 03:52 2017 Sunday ,26 February

Ayat Abaza says state TV presented major stars

GMT 12:06 2017 Sunday ,26 February

Britain banks on robots, AI to boost growth

GMT 12:00 2017 Sunday ,26 February

China to allow more IPOs to attract capital

GMT 06:31 2017 Sunday ,26 February

Consumer prices up in Canada

GMT 06:15 2017 Sunday ,26 February

Tsipras: Era of austerity is over
View News in Arabic - Business: اقتصاد دولي
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Ola Ghanem hopes to work with M.Ramadan

GMT 07:23 2017 Friday ,24 February

Ola Ghanem hopes to work with M.Ramadan
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 06:08 2017 Thursday ,23 February

Actress Lobna Abdel Aziz proud of her career

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 13:47 2017 Friday ,24 February

Rabia Fatima reveals role of "Facebook" in her career

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 10:20 2017 Thursday ,23 February

Brazil's top diplomat resigns

GMT 11:54 2017 Thursday ,23 February

Saudis await visitors but will they come?

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre
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