The Indian government is threatening to block the implementation of a deal struck in Bali last year by trade ministers from around the world, in a move that could halt efforts to revive multilateral trade talks and further damage the reputation of the World Trade Organisation.
The agreement by the WTO’s 160 members last December saw them commit to streamline the flow of goods through borders worldwide. More importantly, it marked the first time in the body’s two-decade history that ministers concluded a deal and came as key WTO members are prioritising regional negotiations instead.
The “trade facilitation agreement” faces its first implementation deadline on July 31 when WTO members, who make decisions by consensus, must approve a one-paragraph “accession protocol”.