Tuesday 21 September 2021
- Advertisement -
HomeEconomyIndia garners Pakistan, Bangladesh & Russia's support on TFA

India garners Pakistan, Bangladesh & Russia’s support on TFA

Milan, Italy — On the issue of implementation of the Trade Facilitation Agreement (TFA) at the WTO, India’s perspective was well presented before the Eleventh Meeting of Finance Ministers of Asia and Europe in Milan, Italy, yesterday. Finance Secretary, Government of India, Arvind Mayaram, who was leading the Indian delegation, assertively put forth the India’s point of view on different issues of economic cooperation for India in this forum including on TFA.

India had refused to ratify TFA in Geneva meet in late July till the WTO members found a permanent solution to the issue public stock holding of foodgrains for the food security programme.

India has asked the WTO to amend the norms for calculating subsidies so that the country could continue to procure foodgrains from farmers at minimum support price and sell them to poor at cheaper rates without violating the norms.

The current WTO norms limit the value of food subsidies at 10% of the total value of food grain production. However, the quantum of subsidy is computed after taking into consideration prices that prevailed about 20 years ago.

Mayaram garnered the support of countries like Pakistan, Bangladesh and for India’s standpoint. After protracted negotiations, ASEM agreed to not only drop a reference to non-implementation of TFA but also to include reference to need for implementation of all Bali decisions in the draft communiqué of Finance Ministers Meeting of ASEM.

India also got inclusion of reference to and disappointment with poor progress on IMF quota reforms in the communiqué. The ASEM communiqué talks about enhanced cooperation between countries of Asia and Europe to create sustainable and profitable growth.

Countries like United Kingdom, Germany, Finland, Austria, Switzerland, Sweden and European Commission emphasised the need for expressing deep concern on non-implementation of TFA without mentioning India’s concern on the issue of food security.

Earlier the finance ministers of ASEM (Asia Europe Meeting) member countries threadbare discussed the draft communiqué to be approved by the Eleventh Finance Ministers meeting. During the deliberations, various contentious issues came-up. Mayaram was successful in getting India’s perspective included in the communiqué.

To serve the nation better through journalism, Sirf News needs to increase the volume of news and views, for which we must recruit many journalists, pay news agencies and make a dedicated server host this website — to mention the most visible costs. Please contribute to preserve and promote our civilisation by donating generously:

This site uses Akismet to reduce spam. Learn how your comment data is processed.

I was first introduced to the works of Daniel Kahneman and Amos Tversky as a doctoral student. My area of specialization was behavioral decision theory (my supervisor was Jay Edward Russo who published a paper with Tversky back in 1969). I remain in awe of their brilliance today.

अफगानिस्तान में मुल्‍ला बरादर को बंधक बनाने और हैबतुल्लाह अखुनजादा की मौत की खबर: रिपोर्ट
#Afganisthan #MullahBaradar #HaibatullahAkhundzada
https://www.jagran.com/world/other-afghanistan-crisis-news-of-the-captivity-of-mullah-baradar-and-the-death-of-haibatullah-akhunzada-in-afghanistan-reports-22041530.html

#IPL2021: #PunjabKings (@PunjabKingsIPL) captain KL Rahul won the toss and decided to bowl first against Rajasthan Royals (@rajasthanroyals) in their opening encounter of the second leg of the @IPL 2021 on Tuesday.

2

In #Spotlight today, Listen to a Discussion on "Seva aur Samarpan-: 20 Saal Sushashan Ke Series: Yoga and Ayurveda" at 09:15 PM.

🔴#LIVE on FM GOLD and News On AIR📱 App

Also on: https://youtube.com/newsonairofficial

🎙️Stay Tuned

#SevaSamarpan

Read further:
- Advertisment -

Popular since 2014

EDITORIALS

[prisna-google-website-translator]