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     Aug 4, '14


India rocks WTO with protocol snub
By Ravi Kanth Devarakonda

GENEVA/ROME - India's decisive stand last week not to adopt the protocol of amendment of the trade facilitation agreement (TFA) unless credible rules were in place for the development issues of the South was met with "astonishment" and "dismay" by trade diplomats from the North, who described New Delhi's as "hostage-taking" and "suicidal".

It obviously came as something of a shock for representatives of Northern interests that any party should have the brass neck to place the interests of its constituents on the negotiating table.

After all, why should such banal issues as food security and



poverty get in the way of a trade agenda heavily weighted in favor of the industrialized countries?

New Delhi was demanding nothing more than credible global trade rules to ensure that "development," including the challenges of poverty, in the countries of the South take precedence over the cut-throat mercantile business interests of the transnational corporations in the North

In fact, it was India's firm stand for permanent guarantees for public stockholding programs for food security that turned this trade agenda upside down at the World Trade Organization (WTO) last week,putting paid to the adoption of the protocol of amendment for implementation of the contested TFA for the time being. More

(Inter Press Service)





 

 

 
 



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