The United States of America on Thursday welcomed the agreement between New Delhi and Washington DC to resolve the food security row and the unlocking of progress at the World Trade Organisation (WTO).
This agreement will pave the way for full implementation of the Trade Facilitation Agreement (TFA), the first multilateral trade agreement to be concluded in the history of the WTO, and reflects shared understanding regarding the WTO's work on food security.
A statement released by US Trade Representative Michael Froman welcomed the move, stating that the concerns which New Delhi had regarding Food Security were successfully abated.
"A year ago at the WTO Ministerial Conference held in Bali, all WTO Members, including the United States and India, celebrated the achievement of the TFA and a broader package of measures addressing concerns of all WTO Members. Efforts to put the TFA in place were dealt a setback in July, when a small group of countries, led by India, raised concerns about the status of the WTO's work on food security issues and blocked consensus on implementing the TFA. We have overcome that delay and now have agreement with India to move forward with full implementation," the statement read.
"With the WTO confronting a mounting crisis of confidence, President Obama and Prime Minister Modi held productive discussions on this issue, including during the Prime Minister's visit to Washington in September. In recent days, officials of both governments worked intensively and reached an agreement that should give new momentum to multilateral efforts at the WTO. In doing so, the United States and India reaffirm their joint commitment to the success and credibility of the WTO," it added.
Froman said the United States is now looking forward to the implementation of the Bali package.
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"On the basis of this breakthrough with India, we now look forward to working with all WTO Members and with Director-General Roberto Azevedo to reach a consensus that enables full implementation of all elements of the landmark Bali Package, including the Trade Facilitation Agreement," he said.
Hailing the agreement between New Delhi and Washington DC, Froman further said that it has been a good week for the US.
"This has been a good week for trade and the growth and jobs it supports here in the United States. The U.S. worked with China to achieve a breakthrough on the Information Technology Agreement, worked with India to move forward with the implementation of the Trade Facilitation Agreement, and worked with our TPP partners to bring the end of these landmark negotiations clearly into sight. Together, these will provide a major boost to the global trading system at a critical time in the world's economic recovery, a central focus of the upcoming G-20 Summit," he said.