India is just near the borderline to sign a deal with the United States and The European Union. The country, which is often known as secular state, has agreed to sign the International treaty that are having flexible custom rules.
However, India will only sign the treaty if the contentious food security issue is reached at the World Trade Organisation. In return the United States and European Union will accept India’s demand for providing flexibility to undeveloped and developing countries in fixing minimum support price for farm products, a newspaper reported.
“The Director General was pleased to hear that the dialogue between the U.S. and India has resumed. He hopes that this dialogue will continue and will be fruitful in advancing efforts to resolve the current impasse, but he is not aware that any understanding has been reached as yet,” WTO said in a statement.
Additional secretary in the Commerce Ministry, J.S. Deepak, and Indian Ambassador at World Trade Organization, Anjali Prasad met chief of WTO Azvedo in Geneva yesterday to discuss about the issue.
To which Azvedo said, “I encourage all WTO members to redouble their efforts to find a solution given the seriousness of the situation that the organization is currently in.”
Yesterday Finance Minister Arun Jaitley attributed the impasse to the unreasonable posturing that the developed countries are doing.
Jaitely said “India is certainly not opposed to trade facilitation. Let me make it very clear… We are agreeing to a multilateral arrangement on trade facilitation but please keep the peace clause alive till the dispute is settled with regard to the stock holding.”
Quite diplomatically a senior US trade said that there was still hopes all WTO members would agree but “if we are unable to do so I think there is a lot of interest among countries in exploring alternatives for those countries who at least initially want to move ahead with those obligations”.