Customs impasse is WTO's 'most serious crisis': Azevedo

World Trade Organization (WTO) chief Roberto Azevedo speaks at a press conference on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit in Beijing, on November 8, 2014An impasse over a global pact to streamline customs procedures poses “the most serious crisis the WTO has faced” and has paralysed all negotiations in the trade body, its chief Roberto Azevedo said on Saturday. A draft of the so-called Trade Facilitation Agreement was hammered out last December during tough negotiations at a World Trade Organization conference in Bali — the WTO’s first global accord since its 1995 founding. “The impasse has effectively paralysed the multilateral negotiations in the organization,” Azevedo told reporters in Beijing.

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