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WTO trade facilitation Bali accord collapses on India's veto
THE World Trade Organisation (WTO) has failed to ratify the Bali accords that would have streamlined customs procedures worldwide, dealing a blow to ambitions of those who expected efficient border clearances.
But the July 31 WTO deadline came and went with India still refusing to sign without first having all agree to a separate deal to enable it, and other developing countries, to subsidise and stockpile food.
Said WTO director general Roberto Azevedo: "We got closer - significantly closer - but not quite there."
The Bali deal was a simpler version of the Doha Round, which began in 2001, and largely avoided controversial issues and focused instead on establishing a new framework to govern global trade.
It called for customs to "cooperate with one another and coordinate their activities to facilitate trade". It emphasised expediting processes governing the release of air cargo after arrival.
It also included measures helpful to e-commerce, including the creation of single windows for submission of shipment information to all relevant government agencies and the establishment of trusted trader programmes.
WTO delegates - including India's - had agreed the global trade facilitation reforms of customs procedures last December, but it needed to be put into the WTO rulebook by July 31, according to Lloyd's Loading List.
Most observers saw that as a formality at the end of a unparalleled achievement in the WTO's 19-year history, and were shocked when India unveiled its veto, according to Reuters.
India had insisted that, in exchange trade facilitation agreement, it wanted freedom to subsidise and stockpile food than is allowed by WTO rules. But it won support from Cuba, Venezuela and Bolivia.
Some trade experts believe the failure is likely to end the era of trying to forge global trade agreements, and prompt groups of nations to make deals among themselves.
Some nations have already discussed a plan to exclude India from the agreement and push ahead, and the International Chamber of Commerce urged officials to "make it happen", Reuters reported.
One source said there is a credible core group that would be ready to start talking about all-but-India deal. China and Brazil, have already said they plan to take steps to implement the customs accord immediately.
But the July 31 WTO deadline came and went with India still refusing to sign without first having all agree to a separate deal to enable it, and other developing countries, to subsidise and stockpile food.
Said WTO director general Roberto Azevedo: "We got closer - significantly closer - but not quite there."
The Bali deal was a simpler version of the Doha Round, which began in 2001, and largely avoided controversial issues and focused instead on establishing a new framework to govern global trade.
It called for customs to "cooperate with one another and coordinate their activities to facilitate trade". It emphasised expediting processes governing the release of air cargo after arrival.
It also included measures helpful to e-commerce, including the creation of single windows for submission of shipment information to all relevant government agencies and the establishment of trusted trader programmes.
WTO delegates - including India's - had agreed the global trade facilitation reforms of customs procedures last December, but it needed to be put into the WTO rulebook by July 31, according to Lloyd's Loading List.
Most observers saw that as a formality at the end of a unparalleled achievement in the WTO's 19-year history, and were shocked when India unveiled its veto, according to Reuters.
India had insisted that, in exchange trade facilitation agreement, it wanted freedom to subsidise and stockpile food than is allowed by WTO rules. But it won support from Cuba, Venezuela and Bolivia.
Some trade experts believe the failure is likely to end the era of trying to forge global trade agreements, and prompt groups of nations to make deals among themselves.
Some nations have already discussed a plan to exclude India from the agreement and push ahead, and the International Chamber of Commerce urged officials to "make it happen", Reuters reported.
One source said there is a credible core group that would be ready to start talking about all-but-India deal. China and Brazil, have already said they plan to take steps to implement the customs accord immediately.
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