Home / Knowledge / News / Apparel/Garments / Ratify 'Agreement on Global Trade Facilitation' – FTA
Ratify 'Agreement on Global Trade Facilitation' – FTA
17
Oct '14
The Foreign Trade Association (FTA) and 13 other business organisations from four continents and representing more than 60 countries have urged WTO Member States to immediately unblock and ratify the long-awaited Agreement on Trade Facilitation.

These trade bodies consider this agreement decisive for both simplifying customs procedures worldwide and overcoming the current impasse of the multilateral trade system.

“Failure of the Trade Facilitation Agreement would have dramatic consequences for the WTO and international commerce,” the joint statement informs.

The FTA, representing over 1,400 European retailers, importers and brand companies, hailed the breakthrough on Trade Facilitation achieved in December 2013 and acknowledged the crucial role played by the WTO to finally deliver tangible results after years of stalled discussions.

“However, the blocking of the implementation of the deal by India is once again threatening the credibility of the World Trade Organisation and the equilibrium of the entire multilateral trading system,” FTA added.

“Businesses worldwide are deeply worried about India’s policy, which should live up to the commitment made in Bali instead of adding more obstacles to the process,” FTA Director General, Jan Eggert stressed.

“The WTO General Council on 21 October 2014 will show the way: success or fiasco of the most prominent WTO undertaking since its creation in 1995,” he noted.

The co-signatories of this joint statement expressed serious concern about the current state of play and make an urgent appeal to WTO leaders to break the deadlock and implement an agreement that would significantly cut red tape and streamline global customs procedures.

“In a world of global supply chains, a multilateral trade rule book facilitating commerce and supporting the development needs of many countries around the world is crucial,” they said.

“This joint statement is a final call to save the agreement from a perpetual impasse. If a solution is not reached in the upcoming meetings, the consequences would be too dramatic for the global trading system and the existence of the WTO”, Jan Eggert underlined by saying. (AR)

Fibre2fashion News Desk - India


Must ReadView All

UK retail firms urge Hammond to ease business rates burden

Textiles | On 20th Nov 2017

UK retail firms urge Hammond to ease business rates burden

Top British retail company CEOs have urged UK finance minister...

L-R: Surya Ajay Agarwal (Director - Donear), Vikram Mahaldar (MD - OCM) & Rahul Rajendra Agarwal (Director - Donear)

Textiles | On 20th Nov 2017

Promoters of Donear Group acquire OCM Woolen Mills

The promoters of Mumbai-based Donear Group have announced the...

Courtesy: Cornell

Textiles | On 20th Nov 2017

Cornell’s tech allows customisation of woven fabrics

Cornell Professor Steve Marschner and Rhode Island School of Design...

Interviews View All

Nishank Patel
Shri Dinesh Mills Limited

Broad range of fabrics will sell well this financial year

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Sunil Rathore
Lacoste India

‘New vendor is welcome if he offers cost, quality and timely delivery’

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Anisha Chaudhari
Threads & Shirts

Threads & Shirts is a freshly-tailored concept providing men/women a...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

November 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
68.5%
No
12.4%
Skip
19.1%

Total Votes: 89

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.8%
No
30.3%
Skip
7.9%

Total Votes: 89

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
86.5%
No
10.1%
Skip
3.4%

Total Votes: 89

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
80.9%
No
9.0%
Skip
10.1%

Total Votes: 89


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search