We are for trade-facilitation pact: India to WTO

Oct 08 2013, 09:35 IST
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SummaryA deal on further easing of global trade through tariff cuts and liberalisation of services trade may be off the WTO agenda

portions of the rejected consignments at the borders before nullifying the entire shipment.

This was done as developed countries wanted India’s proposal on Customs Cooperation to be accepted on a ‘best endeavour’ basis, while their proposals are to be accepted by developing countries on a binding and justiciable basis.

On customs cooperation, the main proposal had initially been put forward by India, Brazil, South Africa and Sri Lanka, which asked for mandatory exchange of information between customs administrations (on request) so as to prevent under-invoicing, overvaluation, tax evasion and illicit capital flows.

While the US had also joined India in making an initial submission, in recent times, it has shown its disinterest in the matter.

India’s proposal is being strongly opposed by Canada and Singapore on grounds of breach of confidentiality and silently opposed by the rest of the Colorado Group members like the US and the EU.

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