India will soon finalise its work programme which will be discussed as part of the long-pending agenda of Doha round of talks at the next WTO meet in Nairobi in December, a Commerce Ministry official said on Thursday.
Blaming the UPA regime for agreeing on an "imperfect agreement" at WTO meet in Bali, Finance Minister Arun Jaitley Wednesday said Western countries find the stand taken by India as reasonable privately, but tend to complain publicly.
Opposition parties in the Rajya Sabha feared that the deal would expose India's Food Security programme, which is still being rolled out, to international scrutiny.
The Trade Facilitation Agreement (TFA) is aimed at freeing global trade from procedural hassles at the customs and reduce transactions cost. As per reports, it would boost global trade by USD 1 trillion.
Just days after the first World Trade Organisation trade reform deal was pushed through on Saturday, trade ministers from 12 countries are in closed-door talks in a Singapore hotel to try to tie up the Trans-Pacific Partnership (TPP).
US President Barack Obama welcomed the multilateral trade agreement, saying it would eliminate red tape and bureaucratic delay for goods shipped around the globe.
U Trade Commissioner Karl De Gucht said today a hard-won agreement on international commerce had saved the World Trade Organization from "the darkness of irrelevance".
CPI(M) affiliated farmers union All India Kisan Sabha (AIKS) today rejected the WTO Ministerial declaration, saying it has infringed upon the soverign right of a country to provide food security for hungry millions.
Commerce ministers capped days of hard negotiations Saturday by approving a WTO agreement on international commerce they hailed as a "historic" boost for the trade body.
India secured its viewpoint on the issue of food security after four days of tough negotiations.
The trade facilitation, which was agreed by the World Trade Organisation (WTO) members after four days of hectic negotiations, will help developing countries including India to reduce transaction cost and improve competitiveness of domestic industry.
He quoted Mahatma Gandhi's words-- "To the hungry, bread is god"-- to drive home his point.
In a major victory for India, the WTO Friday agreed to allow countries to provide subsidy on staple food crops without any threat of punitive action, a concession that salvaged the current round of world trade talks from the brink of collapse.
Trade Minister Anand Sharma said on Friday he would endorse a draft trade reform at the World Trade Organization, removing a major obstacle to a deal.
Just a day earlier, a deal that would add hundreds of billions of dollars to the world economy by some estimates teetered on the brink of collapse.
With the WTO giving time to the US and India to bridge their differences over the contentious food security issue, the last day of the trade talks here is expected to be longer than usual to avert a collapse of the negotiations.
Ministers from nearly 160 member countries of the World Trade Organisation entered a final day of negotiations on Friday with officials sounding optimistic over chances of salvaging a deal that would save the WTO from sliding into irrelevance.
Quoting Presidential spokesman Teuku Faizasyah, `The Jakarta Post' has said that the President was planning to call Singh, but he did not provide further details.
India, which is an important member of the G-33 grouping, is demanding amendments in the World Trade Organization (WTO) draft on agriculture to ensure its food security programme doesn't attract penalties if subsidy limits are breached.
New WTO chief Roberto Azevedo will be seeking to defy the odds and push through an agreement that could lead to relaunching the "Doha Round" of talks on slashing world trade barriers.
Anand Sharma also said that India will remain positively engaged with the other WTO members on farm subsidy and other issues, including Trade Facilitation Agreement (TFA).
The Cabinet is likely to take a decision Thursday on relaxing FDI norms for the housing sector and reducing foreign investment limit to 49 percent in rare and critical areas of the pharma segment.
India may hold the key to the credibility of the World Trade Organization and to a trillion-dollar trade deal that apparently was derailed this week, diplomats in Geneva said on Tuesday.
The meeting was held in Brunei where for the Asean Ministerial Meeting is taking place.
Ahead of the informal WTO ministerial meeting, Indian industry strongly opposed a proposal of the developed countries that duty on specific sectors be eliminated under the sectoral initiative of the Doha Round of trade talks.
Commerce minister Murasoli Maran on Friday asserted that the most important lesson from Doha WTO ministerial conference is that the reform process should be speeded up.
Following are the highlights of the 10-page WTO ministerial declaration paving the way for a development round of negotiations.
Britain's Prime Minister Tony Blair welcomed the Doha agreement to launch a new round of free-trade talks after intervening to urge India to drop its resistance to the accord, his spokesman said.
In a major victory for India, the WTO ministerial meeting approved a declaration over giving developing countries access to cheaper drugs and generic medicines and addressing their public health concerns.
India on Thursday said that it had made significant gains at a World Trade Organisation (WTO) meeting in Qatar, where countries agreed to launch a new round of talks on dismantling trade barriers.
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