India seeks African countries' support for its stand at the WTO

Image
IANS New Delhi
Last Updated : Aug 21 2014 | 9:05 PM IST

India Thursday sought cooperation from African countries at the World Trade Organization (WTO) on the issue of food security and trade facilitation.

According to Commerce Secretary Rajeev Kher, the Indian stand at the WTO deliberations on the trade facilitation agreement was supported by the G-33 and endorsed by 46 countries, including several countries from Africa.

"India, therefore, was not the sole country in the fray," Kher said.

The commerce secretary observed that there were 21 countries in the world which use public stockholding for food security purposes and many more countries are expected to resort to the same in the future.

"Most of these countries could possibly violate the de minimis levels that were agreed upon in WTO," Kher said.

On the growth of the India-Africa trade relations, Kher said trade had grown ten-fold over the past ten years.

"Africa is one of India's most important trading partners and there was a significant amount of complementarity between India and Africa and the two should work together to develop regional value chains," Kher added.

In order to expand trade with Africa, the commerce secretary pointed that India had recently amended the Duty Free Tariff Preference (DFTP) scheme to cover around 98 percent of the tariff lines.

In addition, the government was also considering expanding and augmenting the Lines of Credit (LoCs) extended to African countries.

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Aug 21 2014 | 8:58 PM IST

Next Story