India Inc and exporters today said the trade facilitation agreement reached by the WTO members will help developing countries to reduce transaction cost and improve competitiveness of domestic industry.
Chairman of engineering exporters' body EEPC India Anupam Shah said the WTO Agreement on trade facilitation will make life much easier for Indian exporters.
Ficci President Naina Lal Kidwai said the agreement on trade facilitation will help in reducing transaction costs, cutting red tape, improving transparency besides simplifying and streamlining customs and port procedures.
Preparations have been completed for counting of votes in Chattisgarh tomorrow. Counting centers have been made in all the 27 district headquarters and elaborate security arrangements have been made in Maoist affected areas.
AIR Correspondent reports that the State
Election Commission has directed to count postal ballots along with the counting of votes polled through EVMs. Videography of counting would also been done by the Election Commission. In the 90 member state assembly, a record 77 per cent votes have been polled this time.
In the last assembly elections of 2008, the fate of the winning party was decided by a difference of only 1.5 per cent votes polled. In such a close contest, about 70 thousand postal ballot would play an important role not only for the Congress and the BJP but for all other political parties in the fray. Keeping in view Congress party’s doubt of feared manipulation in postal ballots, the State Election Commission has issued special guidelines and instructed observers to keep an eye on the counting of such ballots. Besides, counting of postal ballots would be completed before the counting of EVMs.
Assocham Secretary General D S Rawat said the agreement on food security will ensure a fair deal for the subsistence farmers and the vulnerable sections in the developing countries. Mr. Rawat said the deal on trade facilitation will improve efficiency at the international trade borders and reduce the transaction costs, particularly for the Indian exporters.
After four days of marathon negotiations at Indonesian island city of Bali, Trade Ministers from 159 countries agreed on the Bali Ministerial Declaration yesterday, which comprises of texts on trade facilitation, food security and development. The deal could add nearly
1 trillion dollar to the global economy.
This is the first such agreement since the WTO was set up way back in 1995.
In recent years, India has undertaken reforms to simplify and modernise its trade procedures.
