Share

Brics sees Bali trade deal implemented

Fortaleza - The Brics group of emerging market nations is confident a global trade reform pact will be implemented despite concerns by India over its food security, Brazil's trade minister said on Monday.

"We are confident that the Bali agreement will be implemented by all," Brazilian Trade Minister Mauro Borges told reporters are the end of a ministerial meeting ahead of the Brics annual summit.

The deal struck in December in Bali to lower trade barriers was the World Trade Organization's first global agreement since it was created in 1995 and revived global talks after the failure of the Doha round.

But India has criticised the pact for putting trade facilitation ahead of a compromise on agricultural subsidies, a crucial issue for a country that needs to stockpile food for its poor.

That disagreement over subsidies has raised fears that the Asian nation would not ratify the pact reached in Bali and derail the latest effort to free up to $1trn in global trade flows.

Borges said India's concern for the survival of its family agriculture on which millions depends is very understandable, but he said it was not an "ultimatum" against implementing the Bali agreement by the July 31 deadline.

South Africa's Trade Minister Rob Davies said the country had no difficulty in implementing the trade facilitation steps, but he said they should be balanced by complementary measures to help agriculture in poorer developing nations.

"There has been a perception by many developing countries that there is an inexorable march towards implementation of trade facilitation, but the rest been left behind," he said.

"The way to resolve this impasse is not to try to brow beat people to put up their hands and concede, but is actually to address the real concerns and issues that a number of the poorest countries are facing."
We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Rand - Dollar
19.07
+0.5%
Rand - Pound
23.60
+1.0%
Rand - Euro
20.32
+0.3%
Rand - Aus dollar
12.24
+0.5%
Rand - Yen
0.12
+0.4%
Platinum
943.20
-0.8%
Palladium
1,035.50
+0.6%
Gold
2,388.72
+0.4%
Silver
28.63
+1.4%
Brent Crude
87.11
-0.2%
Top 40
67,314
+0.2%
All Share
73,364
+0.1%
Resource 10
63,285
-0.0%
Industrial 25
98,701
+0.3%
Financial 15
15,499
+0.1%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders