India and the United States have resolved differences over food security issues, which has been under heated debate as a major impasse hindering the trade deal, according to sources.
The draft came hours after the ministerial meeting, the WTO’s top decision-making body that is scheduled to close on Friday afternoon, was extended without announcement of an exact closing time.
The draft carries “a package of issues designed to streamline trade, allow developing countries more options for providing food security, boost least developed countries’ trade and help development more generally,” it said.
The draft has covered progress in four fields in the Doha Round talks, or the Doha Development Agenda, including trade facilitation, agriculture, cotton production, as well as development and issues of Least Developed Countries (LDCs).
Approval of the draft would stand as a major step for the 12- year-long Doha Round trade talk, which has been long-stalled over wide disparity in positions on farm subsidies, tariffs, and non- agricultural market access between developed countries and developing ones.