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India to ‘Honour’ WTO Trade Deal Pledge

Posted August 19, 2014

Under Economic Issues, International Trade Issues

(AAP)

India will reportedly keep its pledge to ratify a trillion-dollar global pact on easing trade restrictions, with negotiations with fellow World Trade Organisation members said not to have hit a “dead end”.

Commerce Minister Nirmala Sitharaman’s remarks on Saturday to NDTV network marked a softer public tone to India’s stance on the Trade Facilitation Agreement (TFA) - a universal customs clearance deal which would mark the first big global trade liberalisation agreement in two decades.

She said she wanted to stress the WTO negotiation process “certainly has not hit a dead end”, after New Delhi refused to ratify the accord in down-to-the-wire negotiations last month at the organisation’s Geneva headquarters. Read more here.