- Keen to remove restrictions on banking with India, says Iran at World Trade Organization summitWTO: Bali bash set for a crash as India sticks to guns on food stockpilingBetter to have no agreement than a bad one, Anand Sharma at World Trade Organization meetUSFDA warns Jubilant unit for violating good manufacturing practices
facilitation section has three clauses that India does not find suitable and would like to take up for re-negotiation.
Also, apart from food subsidy, other farm proposals on export subsidies and export of certain farm goods at lower rates by developing countries can also be taken back to Geneva. “There can still be a Bali package but it would not consist of trade facilitation or food subsidy,” said a source.
Meanwhile, addressing a packed press conference of over 600 people that included journalists and officials from across the world, Sharma remained hopeful for a consensus but said, “Those who are speaking up for the poor and the hungry people cannot be blamed (if the conference collapses). But it is better to have no outcome than a bad outcome.”
“An overwhelming majority of countries” who spoke on Wednesday representing two-thirds of the world’s poor population and share India’s concerns on food subsidy and stock piling of food grains, Sharma said.
Reaching a consensus at Bali is crucial to take forward the long-pending Doha agenda.
Earlier, India had shown willingness to agree on eight of the 10 draft texts but may want them reworked on issues of food subsidy and trade facilitation.
The US and EU are unwilling to defer the trade facilitation pact.