Roberto Azevedo, WTO director-general, leaves after a press conference at the Convention Center in Brisbane on November 14, 2014. AFP PHOTO/Saeed Khan
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The World Trade Organization said Friday there was a "high probability" that a major deal on streamlining global customs rules will be implemented within two weeks after India and the United States overcame a key impasse.India and the United States settled a dispute on Thursday that had paralysed the WTO and risked derailing the reforms, that are seen adding about $1 trillion to global trade.India had plunged the WTO into the deepest crisis in its 20-year history in July by vetoing a deal on streamlined customs rules due to a lack of progress on its demands to be allowed to stockpile food without observing the usual WTO rules on agricultural subsidies.
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