GENEVA: The World Trade Organisation is still in an impasse over the new treaty on world customs pact, two month after failing to seal it.
According to the officials, the main hurdle in blocking the efforts of WTO’s trade facilitation committee by the United States is continued wrangling with India. On the other side, New Delhi has already refused to soften its position during a meeting of the committee, which was trying to make customs procedures faster and more efficient.
Last year in December, a draft of ‘Trade Facilitation Agreement’ was accepted by almost all the stakeholders at the WTO’s Bali conference, which was to be finalized at the end of July this year. But demands from India that the world body gives the green light to the developing power’s stockpiling of food, have put the long-sought deal on ice.
