US India Reached Trade Compromise, Highlighting Global Trade Plight

At the ninth Ministerial Conference of the World Trade Organization (WTO) held in Bali Island recently (P), the United States and India reached a compromise. The two sides reached a consensus on the "a href=" //www.sjfzxm.com/news/index_f.asp "trade" /a facilitation and promoted the WTO trade negotiation process.

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< p > it is reported that the new agreement has made progress in promoting trade facilitation.

According to the investigation conducted by the International Chamber of Commerce, the signing of the trade facilitation agreement to relax cross-border cargo pport will increase the volume of global exports by US $1 trillion, which fully demonstrates the importance of logistics, supply chain and cargo pfer to international trade.

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< p > on the other hand, under the agreement, India is still implementing large-scale agricultural subsidy policy even in the next few years, which has become a reality that the United States must face.

A working group in the United States questioned whether India could carry out agricultural trade in accordance with international trade standards.

Michael Peng Ke, the US ambassador to the WTO, said that India's subsidy policy distorted the normal agricultural products < a href= "http://fz.sjfzxm.com/" > market price < /a >, which posed a potential threat to the trade of the Indian and Indian agricultural products.

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< p > although there are still differences between the US and India on the subsidy policy of agricultural products, many WTO members regard the agreement as a great victory in the trade negotiations, pointing out that this is the first successful attempt of WTO in improving the international trade policy.

"The WTO negotiations have made substantial results for the first time," Azevedo, director general of the WTO, pointed out.

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< p > > a href= "//www.sjfzxm.com/news/index_c.asp" > World Trade Organization < /a > was established in the middle of 1990s, aiming at formulating relevant policies for the member states in the import and export trade and providing places for negotiation and settlement of trade disputes.

However, the functions of the WTO have not been brought into full play in the past. The 12 years of Doha's trade negotiations have been cyclical and unable to achieve substantive progress. The interests disputes between developed and developing countries are complex.

This led the US and other countries to bypass the WTO to set up regional organizations to promote further development of trade.

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< p > meanwhile, the report pointed out that the new agreement brought WTO into a dilemma.

On the one hand, the agreement has brought benefits to international trade; on the other hand, WTO will also face pressure from some internal political groups.

How to play its due role and promote further development of international trade is still a long way to go for WTO.

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The "Bali Island package agreement" reached by P negotiators mainly includes simplifying customs procedures worldwide. This is a major breakthrough since the deadlock in Doha's trade negotiations in 2001.

Because the goods are easier to go through customs, the agreement will also inject billions of dollars into the global economy.

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< p > however, this < a href= "http://pop.sjfzxm.com/popimg/fz/index.aspx" > customs agreement < /a > gives the developing countries ample grace period, which may dilute its influence.

Moreover, the deadline for the formal implementation of the agreement was in the mid 2015, and some observers questioned this.

Jean-Pierre Lehmann, a professor at the Swiss School of international management and development, said that although the agreement is better than failure, it is a matter of delay. How to implement other countries is still unknown.

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Prior to "P", India plans to get its grain subsidy plan in support of the trade agreement, which is not in line with WTO regulations.

However, representatives of the United States, including the United States, agreed to give India time until India negotiated other options. The process will last for several years or is far from over.

Some negotiators believe that WTO is functioning through consensus. The breakthrough may also damage its dispute settlement mechanism.

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