Export to BIMSTEC countries touched $22.28 billion in 2014-15
Indias share of imports from the BIMSTEC countries was over $9.26 billion in 2014-15, a meagre 2.06% of its overall inbound shipment The Dollar Business Bureau Sir Lanka with total Indian imports worth $6.70 billion accounted for the maximum 2.16% share of Indias exports Indias export to the countries of BIMSTEC (Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation was registered $22.28 billion during the last financial year, the government said on Monday. BIMSTECa grouping of countries from South and South East Asiaincludes Bangladesh, Bhutan, India, Myanmar, Nepal, Sri Lanka and Thailand. Sir Lanka with Indian imports worth $6.70 billion accounted for the maximum 2.16% share of Indias exports. It followed by Bangladesh with imports from India worth $6.45 billion, sharing 2.08% ...
WTO work paralysed by deadlock on Bali Package: Roberto Azevdo
The Dollar Business Bureau | @TheDollarBiz “There is now a growing distrust which is having a paralysing effect on our work across the board,” WTO chief said in the formal meeting of the Trade Negotiations Committee on October 16, 2014 (Pic. source - WTO) Roberto Azevêdo, Director-General, World Trade Organisation (WTO), has said that while there is no link, legal or formal, between the Trade Facilitation Agreement (TFA) and public food stockholding limits, an important political linkage has been made. This raises questions about WTO’s effectiveness in trade negotiations, he said. WTO members had agreed to adopt TFA by July 31, 2014, but it hasn’t happened so far mainly due to India’s reluctance. Despite consultations held by WTO and other ...
WTO launches intensive consultations on Trade Facilitation Agreement
The Dollar Business Bureau | @TheDollarBiz Multilateral trading system has strong support across the world, says WTO chief Roberto Azevêdo (Pic. source - WTO) Roberto Azevêdo, Director-General of the World Trade Organisation (WTO), has launched “intensive and comprehensive” consultations on taking the Bali Package forward which includes both Trade Facilitation Agreement (TFA) and concerns on food security raised by India. Members have been asked to report the outcome and in the Trade Negotiations Committee (TNC) on October 6, 2014. Azevêdo urged members not link TFA with other deals. He said, “There seems to be a clear interplay between concerns relating to the negotiations on public stockholding for food security purposes and the adoption of the protocol of amendment on the ...
