U.S. and India Reach Trade Facilitation AgreementMonday, November 17, 2014
(American Meat Institute)
The United States and India reached an agreement on a set of measures intended to break the impasse in the work of the World Trade Organization (WTO) to implement the agreements reached last December at the WTO Ministerial in Bali. India and a few other countries had blocked consensus on the Trade Facilitation Agreement (TFA) over food security concerns.
The U.S.-India agreement moves the WTO's TFA forward. If accepted by the full WTO Membership, this approach will enable fully multilateral implementation of the TFA, unlocking immense commercial opportunities for all WTO Members, including especially developing country Members, by reducing costs and administrative burdens associated with moving goods across borders. The agreement also includes an understanding on food security programs. This is the first multilateral agreement to be concluded since the WTO's inception 20 years agoshare on facebook share on twitter