China said on Monday it regretted World Trade Organisation members had failed to reach an agreement on simplifying global customs rules, a breakdown it said could damage multilateral trade.
India last month torpedoed a global deal to standardize and streamline customs regulations, known as "trade facilitation", after it demanded more freedom to subsidize and stockpile food grains than is allowed by WTO rules.
This has been excerpted from an 18 August 2014 article by Reuters and is available in its entirety at:
http://www.reuters.com/article/2014/08/18/us-china-wto-idUSKBN0GI0RQ20140818