Chief Minister of the Punjab province in Pakistan and the Pakistan prime minister's brother, Shahbaz Sharif, tells Nayanima Basu that strategic issues go hand in hand with trade normalisation. Sharif believes that cordial relations are in the interest of the people of both India and Pakistan and issues such as Kashmir will also be resolved soon.
A visibly elated Sharma said the decision gave India complete protection even if it breached the food subsidy limit under WTO rules
India rejected the proposed interim measure and trade facilitation agreement, risking an outright collapse of the ongoing talks.
China, Indonesia ready to agree to a four-year interim solution.
If the WTO talks in Bali fail, it will adversely impact India.
According to the final draft of the negotiating texts, seen by Business Standard, there are a few binding commitments in the chapter on TFA, under Article 13, which talks of Customs cooperation.
According to the final draft of the negotiating text circulated by WTO Director-General Roberto Azevedo among trade ministers of the 159 member countries on Wednesday night, on public stockholding for food security purposes, a developing country like India can provide subsidies for farm support even if those exceed the permissible 10 per cent cap.
The country has also asked India to further reduce tariffs on goods.
Pakistan had promised to grant this status, mandatory under global trading rules, to India in December 2012.
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