Eleventh hour negotiations to win Indian approval for a breakthrough global trade pact may not have succeeded in the end despite initial signs of progress, sources involved in the discussions said on Saturday.
India is the most prevalent among a group of developing nations angry at rich countries for failing to address their concerns about a deal on trade facilitation – struck by WTO member states in Bali last year – that must be detailed by a July 31 deadline. Proponents believe the deal could add $1 trillion to global GDP and 21 million jobs.
But India’s Trade Ministry said on Wednesday it would “find it difficult” to support the protocol unless it was satisfied that adequate emphasis is being placed on negotiations about food security and other issues important to poor countries -sparking furious negotiations at the G20 Trade Ministers meeting in Sydney.
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