Nov 14 2014 : The Times of India (Delhi)
India-US food security deal vital breakthrough: WTO DG, EU
New Delhi:
TIMES NEWS NETWORK
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World Trade Organization (WTO) DG Roberto Azevêdo on Thursday welcomed the news that the US and India have agreed on the way forward for implementing key elements of the package of agreements reached last December at the WTO ministerial conference in Bali. Different views on the implementation of two of these accords, the Trade Facilitation Agreement and the decision on Public Stockholding for Food Security Purposes, created an impasse in July , which has led to a freezing of WTO negotiations since then.“The India-US agreement provides a basis for the director-general to intensify his consultations with other WTO members on the best way to overcome the present stalemate and to promptly implement all Bali ministerial decisions,“ Azvedo said in a statement.
“This breakthrough represents a significant step in efforts to get the Bali package and the multilateral trading system back on track. It will now be important to consult with all WTO members so that we can collectively resolve the current impasse as quickly as possible,“ he said.
The European Union termed the India-US deal as an important breakthrough.
“We have achieved an important breakthrough which will lead to the full implementation of the landmark Bali package, including the Trade Facilitation Agreement, the first global trade deal agreed in the World Trade Organization (WTO). I welcome the news that the US and India have resolved their differences on this issue. Together with the recent progress in negotiations on the expansions of the Information Technology Agreement (ITA), today's breakthrough on the Bali agreements demonstrates that the WTO can deliver meaningful trade liberalization results which will greatly contribute to the growth of the global economy ,“ said EU trade commissioner Cecilia Malmström.
The WTO DG said implementation of all aspects of the Bali package would be a major boost to the WTO, enhancing the ability to deliver beneficial outcomes to all members of the trade block.
“Advancing our work toward a permanent solution on public stockholding and the implementation of the Trade Facilitation Agreement, including its provisions for technical assistance for developing countries, will be integral to this work. I will also continue to ensure that LDC (least developed country) issues are given the prominence they deserve“, he said.
While stressing that the India-US understanding would represent a major step forward, Azevedo stressed that members would need to redouble their efforts in order to minimize the delays provoked by the impasse on the conclusion of the post-Bali work program.
“This breakthrough represents a significant step in efforts to get the Bali package and the multilateral trading system back on track. It will now be important to consult with all WTO members so that we can collectively resolve the current impasse as quickly as possible,“ he said.
The European Union termed the India-US deal as an important breakthrough.
“We have achieved an important breakthrough which will lead to the full implementation of the landmark Bali package, including the Trade Facilitation Agreement, the first global trade deal agreed in the World Trade Organization (WTO). I welcome the news that the US and India have resolved their differences on this issue. Together with the recent progress in negotiations on the expansions of the Information Technology Agreement (ITA), today's breakthrough on the Bali agreements demonstrates that the WTO can deliver meaningful trade liberalization results which will greatly contribute to the growth of the global economy ,“ said EU trade commissioner Cecilia Malmström.
The WTO DG said implementation of all aspects of the Bali package would be a major boost to the WTO, enhancing the ability to deliver beneficial outcomes to all members of the trade block.
“Advancing our work toward a permanent solution on public stockholding and the implementation of the Trade Facilitation Agreement, including its provisions for technical assistance for developing countries, will be integral to this work. I will also continue to ensure that LDC (least developed country) issues are given the prominence they deserve“, he said.
While stressing that the India-US understanding would represent a major step forward, Azevedo stressed that members would need to redouble their efforts in order to minimize the delays provoked by the impasse on the conclusion of the post-Bali work program.
