GENEVA : A global deal to cut fishing subsidies could be struck at a major ministerial meeting of the World Trade Organization this week even though India in particular pushed for a major exemption, officials said on Tuesday.
Negotiators have been working in confidential meetings in recent days to come up with a final draft of which there are only 11 undecided areas, down from more than 80 a year ago. Progress made in recent weeks includes an agreement on how the rules apply to vessels flying flags that are not their own, the draft deal showed. However, India commerce minister Shri Piyush Goyal on Tuesday said a 25-year transition period was a"must have."
An official from the European Union, a major subsidiser, said the current draft text - the eighth version circulated - represented a"landing zone."
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