{{The World Trade Organization says its 160 members have failed to agree a global customs pact drawn up in meetings in Bali last December.}}<\/p>\n
The Trade Facilitation Agreement would have streamlined global customs procedures, and should have been finalised by Thursday.<\/p>\n
But it was blocked over a number of rifts, including India’s demands for concessions on the stockpiling of food.<\/p>\n
The WTO said it had not been possible to find a breakthrough.<\/p>\n
{{‘Uncertain ground’}}<\/p>\n
“We have not been able to find a solution that would allow us to bridge the gap,” WTO director-general Roberto Azevedo said.<\/p>\n
He asked WTO members “to reflect long and hard on the ramifications of this setback”.<\/p>\n
And US ambassador to the WTO, Michael Punke, said that the failure to agree a deal had “put this institution on very uncertain new ground”.<\/p>\n
The WTO had seemed to be on the verge of reaching its first comprehensive agreement since it was founded in 1995.<\/p>\n
But India vetoed the proposal at a late stage, demanding greater concessions over farm subsidies and agricultural stockpiles.<\/p>\n
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