Obama commends Narendra Modi's leadership on reaching WTO agreement

US President Barack Obama has commended the personal leadership role of Prime Minister Narendra Modi in finding a forward path on the WTO Trade Facilitation Agreement (TFA).

"The President had extensive discussions with the Prime Minister Modi on this issue and appreciates his personal leadership in finding a path forward," White House Press Secretary Josh Earnest said in a statement after India and the US announced that the two countries have reached an agreement on TFA.

In Myanmar, where the US President met Modi briefly on the sidelines of the East Asia Summit in Nay Pyi Taw described the Prime Minister as a man of action.

In a statement, Earnest said the important breakthrough reached between the US and India will unlock progress toward the full and immediate implementation of the WTO TFA, which will lower the costs of trade for developed and developing countries alike.

"This breakthrough will also strengthen the multilateral trading system and give a boost to its ongoing work, including in the area of food security," he said.

Combined with the recent announcement of a breakthrough on the WTO Information Technology Agreement (ITA) and the agreement among Trans Pacific Partnership (TPP) Leaders that the end of those landmark negotiations is coming into focus, this has been a good week for expanding opportunities for American businesses and workers and for promoting growth around the globe, Earnest said.

(PTI)