India Blocks China At WTO

ABU DHABI (ANI) – India on February 28 blocked the China-led Investment Facilitation Development Agreement (IFD) in the World Trade Organization (WTO), so the proposal is unlikely to be mentioned in the outcome document of the ministerial conference. South Africa also joined India in the blocking.

The 123-member group led by China tried to forward a proposal in the working group meeting on development.

Official sources said the IFD is an agreement among the Belt and Road Initiative countries and is led by vested interests.

The IFD initiative aims to develop a global agreement to improve the investment and business climate and make it easier for investors in all sectors of the economy to invest, conduct their day-to-day business, and expand their operations.

India says it is a non trade issue.