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India likely to announce breakthrough in WTO talks on trade facilitation

India TV Business Desk 13 Nov 2014, 11:41:57 AM IST
India TV Business Desk

New Delhi: A breakthrough is very much possible in talks between India and the World Trade Organization regarding a deal struck in 2013 that would facilitate global trade, according to some media reports .

Trade minister Nirmala Sitharaman is expected to issue a statement shortly in this regard, reports suggested.

In the last month of October, India had given no sign of dropping its veto on a global trade deal, which forced World Trade Organization chief Roberto Azevedo to announce a week of talks to try to chart the future direction of the Geneva-based body.

A breakthrough deal last year revived hopes, but India blocked its implementation in July, demanding more concessions.

“There have been some pretty horrific situations but this is a unique one in its uncertainty and complexity,” Rockwell said after the General Council meeting in October.