Search Result for : Trade Facilitation Agreement Tfa

The Dollar Business Bureau India’s proposal on Trade Facilitation Agreement (TFA) in Services at the World Trade Organisation (WTO) has got mixed response from the member nations, Commerce and Industry Minister Nirmala Sitharaman has informed the Parliament. India had circulated the proposed draft text on the TFA in Services at WTO in February this year. The draft has been discussed at relevant bodies of the WTO, said Sitharaman said in a written response to the Rajya Sabha. The proposal offers an outline for addressing various barriers to trade in services in a holistic and comprehensive manner, she said. “India’s proposal received a mixed response from the WTO members. Some members appreciated India’s proposal as being comprehensive in scope and well balanced,” the Minister said. “However, various developing and developed ...

The Dollar Business Bureau The Commerce and Industry Minister Nirmala Sitharaman is likely to discuss issues such as the proposed trade facilitation agreement (TFA) in services during her meeting with World Trade Organisation (WTO) Director-General Roberto Azevedo on Tuesday in Geneva. The meeting assumes importance as it is being organised before the WTO’s ministerial conference to be held in December in Argentina. Once an official outline is decided for the ministerial conference, members are bound by WTO regulations to discuss only that and not initiate the new ones.  The other issues that would be taken up for discussions during Sitharaman’s meet at the organisation’s headquarters include finding a permanent solution for public stock holding of food grains for food security, subsidies on fishery and preparations for ...

Abin Daya Sugar is becoming not so sweet for retail consumers, with prices rising fast in the domestic market. CPI inflation on sugar has remained in double digits for 10 months in a row now. The expectation for Feb 2016 is also not any different. In the global scene, while the prices may have dropped marginally during the recent months, they still remain high compared to the previous year levels. However, the recently published Trade Policy Agenda of the US Administration for 2017 hints at changes that might lead to concerns for India. The US is India’s largest export market at $40 bn worth of exports per year. Any event which changes Indo-US trade dynamics and affects this number will have a significant ...

The Dollar Business Bureau A senior trade delegation from the Indian Ministry of Commerce will soon visit Geneva to hold talks with the World Trade Organisation (WTO) to negotiate and find the solution on food security. Commerce and Industry Minister Nirmala Sitharaman underscored that the delegation will ensure that India's proposal for trade facilitation agreement (TFA) in services sector gathers momentum. Earlier, Sitharaman and WTO Director General Roberto Azevedo held a meeting during which the two brought out the food security issues. The Indian Commerce Minister underlined that the delegation will highlight both food security and services issues with the WTO. "The team which will be going to Geneva will also see that TFA in services is taken at various stages so that it ...

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 ...

The Dollar Business Bureau Ahead of the scheduled bilateral Strategic and Commercial Dialogue next month, US asked India to remove customs duties on the products of information and communications technology (ICT). “We are also asking India to eliminate customs duties on ICT products. This will help introduction of these products into the supply chain operations,” said Robert Holleyman, Deputy US Trade Representative (USTR) on Monday, at an event organised by the think tank, Observer Research Foundation. In order to ensure free trade of ICT products, Holleyman said that the US is also in discussion with India for implementing trade facilitation agreement (TFA) of WTO. He stated that India should make the most of the export-led growth approach as it would enhance its potential in the ...

The Dollar Business Bureau   On Friday India officially confirmed the World Trade Organisation’s (WTO) new Trade Facilitation Agreement (TFA) aimed at increasing the activity of buying and selling of goods and services.  “The move would supplement India's ongoing reforms to bring in simplification and enhanced transparency in cross border trade in goods,” Nirmala Sitharaman, Commerce and Industry Minister said. With the signing of this agreement, India becomes the 76th member of the WTO to accept the TFA. The TFA will enter into force once two-thirds of the WTO membership accepts the agreement. Various other members of the WTO such as China, Singapore, US, Japan, Kenya, Myanmar, Brazil, Mali and Australia have also accepted the TFA. Anjali Prasad, India’s WTO ambassador gave India’s instrument of confirmation to Roberto ...

Neha Dewan | @TheDollarBiz     India’s stand that it will first ensure a commitment by members of the World Trade Organisation (WTO) over government food subsidy programs before allowing a consensus on the Trade Facilitation Agreement (TFA) has got support from unexpected quarters. Syed Yawar Ali, Pakistan Co-Chair for India Pakistan Joint Business Forum (IPJBF), said in a conference in New Delhi that he supports India’s efforts to protect farmers’ interest in the WTO. “There are atleast 60% people in agriculture sector [in India], and USA and EU have only 2%, but yet they protect them very vigorously. So I would support India’s WTO effort here,” Ali said. Ali is also hopeful that Islamabad will soon grant the Most Favoured Nation ...