Sydney: Efforts to assuage Indian concerns about a global trade pact appear to have failed, sources involved in the discussions said on Monday, setting off a frantic rush to win its support before a Thursday deadline.
India is the most prominent of a group of developing nations angry with rich countries for failing to address their concerns about a deal on trade facilitation struck by WTO member states in Bali last year.
As late as Sunday, hopes were high that publicly addressing Indian concerns during a G20 trade ministers meeting in Sydney this past weekend would give it a face-saving path towards reaffirming its assent before the July 31 deadline.
India stockpiles food for its poor, citing the need for food security, but doing so puts it at risk of breaking the rules of the WTO which worries that the stockpiling of subsidised food can distort trade. “India clearly expressed its concern that work proceed on all fronts, including food stockpiling,” US trade representative Michael Froman said.
