SEAnews 2014-12-12 ArtNo.45379

【New Delhi】Late on Thursday(27-11-14), the World Trade Organization’s General Council adopted a decision on public stockholding for food security purposes, on the Trade Facilitation Agreement and also on Post Bali Work.

　Commerce and Industry Minister Nirmala Sitharaman told Parliament: “I am happy to report to this House that we have been able to secure an outcome that addresses our concerns,” Ms. Sitharaman said on the 28th November.
　The General Council decision on food security is new and unambiguous, the Minister said. “It makes it clear that a mechanism, under which WTO members will not challenge the public stockholding programmes of developing country members for food security purposes, in relation to certain obligations under the WTO Agreement on Agriculture, will remain in place in perpetuity until a permanent solution regarding this issue has been agreed and adopted.”
　This would guard against the possibility of no cover being available after 2017 in case a permanent solution is not arrived at by then, she said. She also said that there was a firm commitment to engage in negotiations for a permanent solution through an intensified programme of work.

○India Inc welcomes 'historic' WTO pact
【NEW DELHI】Terming the WTO agreement on trade reforms and foodgrain stockpiling as "historic", the industry today (28-11-2014) said the development will give a boost to the world trade.
　"While the decision on public holding for food security purpose protects the nutritional needs of millions of poor people in developing world, the adoption of protocol on Trade Facilitation will give the much-needed boost to world trade, which witnessed downward trend in post-crisis period," the Competition Commission of India (CCI) said in a statement.

【News source】

India’s stand vindicated: Minister

India convinces WTO of food security issues: Sitharaman

India Inc welcomes 'historic' WTO pact

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