| Date: |
04-11-2014 |
| Subject: |
Bali package: India against trade pact by select WTO group |
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NEW DELHI: The government has slammed World Trade Organization members, who suggested signing an agreement on easier custom rules by a select group of countries and keep the dissenters such as India out of the Bali package.
Several countries have in the past proposed that countries such as India be kept out and a plurilateral framework be worked out. On Friday , WTO director general Roberto Azevedo too listed it out as one of the options to break the deadlock at the multilateral agency , though he also said that such an arrangement is not in the best interests of a global trade framework. Azevedo still suggested that efforts should be made to arrive at a consensus.
There is a stalemate at WTO following India's insistence that the trade facilitation agreement should not be signed until the concerns over the formula for calculating the domestic subsidy is reworked. "Why keep trade facilitation out? It would be plurilateral. How can there be an agreement on this. All issues need to be discussed," said a government official, who did not wish to be quoted. Indian authorities are wary that there may be attempt to sidestep crucial issues in order to get a deal. In any case, there are several in the government who are critical of the decision to make the services negotiations a plurilateral affair, where likeminded countries keep out others and sign an agreement under the WTO umbrella. Those who want to join later have to pay an additional price by way of higher commitments.
When the Doha Round was launched 13 years ago, India had hoped to use its acumen in the services sector, especially IT, to get a better visa regime. In return, it was willing to lower import duty on industrial goods. But the developed countries were unwilling to make any concessions either on services or on reducing subsidy on farm produce.
Source : economictimes.indiatimes.com
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