'WTO's future bright; US ready to up engagement with India'
PTI Confident of greater bilateral trade and enhanced cooperation at global economic platforms, the US on Sunday said it is ready to increase engagement with India to find new common ground at WTO and asserted that the future looks "bright" for this global trade body.The comments assume significance as during the WTO's Nairobi Ministerial conference, differences had surfaced between developing countries including India and developed economies including the US on issues related to the Doha Round, public stockholding for food security purposes and new issues being pushed by the rich nations."In our view, the future looks bright for the WTO and we remain ready to increase our engagement with India to find new common ground after years of impasse in the ...
Government working on internal processes to ratify WTO's trade facilitation agreement
Source: PTI The government is working on internal processes to ratify WTO's trade facilitation agreement (TFA), which looks to ease Customs procedures to boost trade, a senior commerce ministry official today said. "India is fully committed to honouring its international obligations and is working on its notification commitments as well as internal processes for ratifying the agreement," the official said. Last year, India had decided not to join the consensus at WTO on TFA implementation till its concerns on implementation of public stockholding for the food security purpose were addressed. Once this was done through a decision of WTO's General Council, the highest decision-making body of the organisation, India joined the consensus on implementing TFA. TFA aims at simplifying Customs rules, ...
