Global trade deal soon after US-India agree, WTO says

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Uniform global standards at Customs and port clearance could become reality after India and the US finally agreed on the former’s food programme, clearing the way for the WTO to implementa  trade facilitation deal. India had blocked the deal over concerns about its food stockpiling programme. But it has been allowed to extend it, and the Trade Facilitation Agreement can be adopted as early as next year. Regulators are now looking at implementing all the elements of the Bali package. The WTO says the deal will stimulate the global economy by $1 trillion, by removing delays at border crossings.