World Trade Organization (WTO) Director-General Roberto Azevedo
IN PHOTO: World Trade Organization (WTO) Director-General Roberto Azevedo gives a speech in Mexico City August 11, 2014. Failure to reach a global customs rules deal could have a "considerable impact" on other areas of global trade negotiation, Azevedo said on Monday during a visit to Mexico. Late last month, India torpedoed a deal to simplify, standardize and streamline the rules for shipping goods across borders, know as "trade facilitation", after it demanded concessions on agricultural stockpiling. REUTERS/Henry Romero Reuters/Henry Romero

Roberto Azevedo, the Director-General of the World Trade Organisation, asked for the member countries of APEC to help save the Bali Package, which was successfully negotiated about a year back. The finalisation of the deal was however not possible due to objections raised on two crucial points.

Member countries of the WTO have so far failed to agree on the modalities of implementing the previously agreed upon Bali package. The two issues which some countries have concerns about are the public stockholding and the Trade Facilitation Agreement.

The disagreements on these two issues have led to a failure to reach an agreement on the multilateral negotiations at the WTO. It is estimated by some economists that if the Bali deal is implemented the result could mean a trillion dollar boost to the global economy and over 21 million new jobs globally.

Mr. Azevedo highlighted the efforts made so far to achieve a breakthrough on the Bali package. Hectic consultations were reportedly held with the member nations and the consultations have been described as "positive and constructive," by the Director-General of WTO. But no agreement has been reached so far.

Mr. Azevedo outlined three scenarios which can emerge after the consultations. The ideal scenario would be that a solution to the concerns is found soon. But even in this scenario the modalities of the agreements may not be worked out be the December deadline that was agreed upon in Bali.

The second scenario is the present situation where the member countries try to work on the other agreements from the Bali decisions, ignoring the contentious issues. But, according to Mr. Azevedo even this has been difficult because many member countries at the WTO would rather have a deal now and are said to be disengaging from other negotiations.

The third scenario is member nations try to negotiate agreements outside the WTO. Mr. Azevedo cites the example of implementing the Trade Facilitation Agreement by two countries by using the Most Favoured Nation route. For countries that are opposed to such an approach, Mr. Azevedo hopes that they make efforts to resolve the impasse quickly.

Lauding the role of APEC in promoting the multilateral trading system, Mr. Azevedo said that the system needs the support of the member nations. The Director-General of WTO will be in Brisbane, Australia, for the 2014 G-20 summit and will explore solutions to the impasse. The vent will be held on Nov. 15 and 16.