London, July 28 (ANI): Discussions at the United Nations (UN) to achieve a landmark treaty to regulate the conventional arms trade have concluded without an agreement, after the United States, followed by Russia and China, claimed that they need more time to consider the issues.
However, despite the setback, conference chairman Roberto Garcia Moritan said that the eventual adoption of an Arms Trade Treaty (ATT) was inevitable.
"I don't have any doubt, because there is a need. We need a treaty and we will have a treaty," the BBC quoted Moritan, as saying.
According to the report, some delegates at the conference accused the US of bowing to domestic pressure from the powerful gun lobby in the run up to presidential elections, after a bipartisan group of 51 US senators threatened to oppose any agreement that infringed on the constitutional right to bear arms.UN Secretary General Ban Ki-moon also reiterated his disappointment at the failure to agree on a treaty, but he expressed optimism at the fact that countries had agreed to continue pursuing a treaty and pledged his "robust" support.
The negotiations were the result of a six-year campaign by a coalition of non-governmental organisations, including Amnesty International and Oxfam, the report said.
The global arms trade is estimated to be worth between 60 to 70 billion dollars per year. (ANI)