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Aug 01, 2014, 08.35 AM IST | Source: Reuters

WTO fails to agree global trade deal, Azevedo says

"We have not been able to find a solution that would allow us to bridge that gap," WTO Director-General Roberto Azevedo told trade diplomats at a meeting in Geneva just two hours before the final deadline for a deal.

WTO fails to agree global trade deal, Azevedo says

The World Trade Organization failed on Thursday to reach a global deal to standardise customs rules, which would have been the first global trade reform in two decades but was blocked by India's demands for concessions on agricultural stockpiling.

"We have not been able to find a solution that would allow us to bridge that gap," WTO Director-General Roberto Azevedo told trade diplomats at a meeting in Geneva just two hours before the final deadline for a deal.

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