Tuesday, 29 July 2014

TFA impasse: Roberto Azevedo puts World Trade Organisation members on two ... - Economic Times

Leave a Comment
NEW DELHI: WTO director-general Roberto Azevedo has put all members on a 48 hours notice asking them to be ready to meet anytime in a desperate last ditch effort to break the impasse.

There was no consensus reached at the Tuesday meeting of group coordinators called by Azevedo, who warned that there were deep concerns over the future of Doha round of negotiations.


With rich countries unwilling to renegotiate the timelines, and India not relenting on signing the protocol till the food security issue is also taken up, Azevedo will try to work out a middle ground to ensure the Bali trade deal remains alive.


Azevedo had called the meeting on Tuesday of all group coordinators to address concerns from members about the future of negotiations.


"This afternoon Director-General Azevedo met with the coordinators from 15 groups, representing a vast cross-section of the WTO Membership. The impasse on the Bali issues has raised deep concerns among WTO members on the future of Doha Round negotiations of which the 10 Bali agreements are a part," said Keith Rockwell, spokesperson, WTO.


This was a last minute meeting called by Azevedo after the two-day General Council meeting failed to arrive at a consensus with India strongly seeking deferment of the signing of TFA (trade facilitation agreement) protocol amendment till December 31.


It said by that time the entire Bali package including issues of food security could be delivered as a package. The legally binding TFA aims to provide seamless cross-border trade by easing cusoms procedure and red tape.


It needs to be ratified by July 2015. The agreement will come into force after two-third of members ratify it. In the Tuesday meeting, Azevedo briefed the coordinators on the state of play and outlined the steps he has taken so far and the actions he plans to take in the coming hours.


"He stressed that there are less than 48 hours to resolve the crisis and that all WTO members should be on call to meet on short notice," Rockwell added. The meeting could reconvene in the next two days only with discussion on trade facilitation protocol amendment only if any delegation comes forward with a proposal that may lead to consensus.


In case of no such movement by delegations by midnight 31 July the trade facilitation amendment protocol will be closed and the General Council would automatically be adjourned.


The US stand has dimmed chances of a breakthrough. The US ambassador to WTO Michael Punke had said, "It is no useto sugar coat the consequences of such action or to pretend that there would be business as usual in the aftermath. If the Bali package fails, there can be no post-Bali."


The signing of trade facilitation amendment protocol would mean immediate implementation of the Category A clauses of the TFA, and that of category B by July 31, 2015.


This entry passed through the Full-Text RSS service — if this is your content and you're reading it on someone else's site, please read the FAQ at http://ift.tt/jcXqJW.






from Top Stories - Google News http://ift.tt/1zs2tEh

via IFTTT

0 comments:

Post a Comment