Timothy Brightbill Comments on Global Trade Deal Prospects at WTO Meeting in Bali
Timothy C. Brightbill, a partner in Wiley Rein’s International Trade Practice, was interviewed on December 4 on CNBC Asia’s Cash Flow about the prospects of a global trade deal being reached at the ongoing World Trade Organization (WTO) meeting in Bali, Indonesia.
India had been refusing to compromise on food security policies that involved subsidizing food stockpiles. India’s stance had dampened expectations for the WTO meeting, though U.S. and European officials remain hopeful that an accord can be reached. Mr. Brightbill had stated in his CNBC interview there was reason to worry unless India changed its stance.
Mr. Brightbill further noted that the results of the WTO summit could raise the importance of free trade agreements, such as the Trans-Pacific Partnership (TPP)—a pact that U.S. negotiators hope to wrap up by the end of this year. The TPP is considered a top priority of the Obama administration, which feels it is “the potential gold standard free trade agreement for the 21st century,” Mr. Brightbill said. “The test is if the WTO cannot reach an agreement with 159 members on key negotiating issues, than smaller free trade agreements will have to fill the gap and find a way to address some of the pressing trade barriers that exist throughout the world,” he said.
Mr. Brightbill’s CNBC Asia interview can be seen here.
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