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India, US Resolve WTO Food Security Issue: Indian Commerce Minister

© Nirmala Sitharaman's facebookIndia's Commerce Minister Nirmala Sitharaman
India's Commerce Minister Nirmala Sitharaman - Sputnik International
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India's Commerce Minister Nirmala Sitharaman stated that India and the United States have ended the impasse on food security issues in the WTO.

NEW DELHI, November 13 (Sputnik) – India's Commerce Minister Nirmala Sitharaman said Thursday that India and the United States have resolved issues regarding food security in the World Trade Organization (WTO).

"India and the United States have brokered peace and ended the impasse on food security issues in the WTO. WTO General Council will consider India's proposals on food security," Sitharaman said at a press conference.

The minister added that the Indian government had no option but to seek a course correction on the Bali package as it went against India's stance on food security.

"India had opposed the Trade Facilitation Agreement (TFA) only because some of the WTO rules were proving to be an obstacle to the Indian government's policy for food security," Sitharaman said, adding that India was trying to safeguard its farmers' interests.

The TFA was concluded at the Bali ministerial conference of the World Trade Organization in December 2013. The treaty defines how much a country can spend on stockpiling food and subsidies for farmers. India said it needed more financial freedom to provide food security for hundreds of millions of its poor and refused to sign the document.

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